Fitch rates International Industrial Bank eurobond B

Fitch Ratings said it assigned IIB Luxembourg SA's €200 million 9% issue of limited recourse notes due July 2010 final ratings of long-term B and recovery RR4. The notes will be used to finance a loan to International Industrial Bank, which is rated long-term and short-term issuer default B with a stable outlook and national long-term BBB(rus) with a stable outlook.

The deal structure and covenants are unchanged from those stated in Fitch's June 8 announcement, the agency said.

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