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Fitch assigns Industry & Construction Bank notes B+
Fitch Ratings said it assigned Or-ICB SA's $300 million 6.875% fixed-rate loan participation notes due 2008 a final long-term B+ rating.
The notes are to be used solely for financing a loan to Russia's Industry & Construction Bank (ICB, rated long-term foreign currency B+/rating Watch positive, short-term B, support 4, individual D), the agency said.
Fitch noted ICB is ultimately controlled by the founders of a financial industrial group known as the Bankers' House St. Petersburg.
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