Fitch rates Moscow bond AAA(rus)

Fitch Ratings said it assigned the City of Moscow's upcoming RUR5 billion domestic bond due Dec. 18, 2011 an expected national long-term rating of AAA(rus). The city has long-term foreign- and local currency ratings of BBB with negative outlook, short-term foreign-currency of F3 and national long-term rating of AAA(rus) with stable outlook.

The final rating is contingent upon the receipt of final documents. The bond has a fixed 8% coupon. The proceeds will be used to finance the city's investment projects and refinance maturing debt.

The city is the capital of the Russian Federation and its economic and financial centre, Fitch said.

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