Fitch gives OTP Bank bonds BB

Fitch Ratings said it assigned OJSC OTP Bank's RUB 6 billion of senior unsecured fixed-rate exchange bonds, BO-02 series, a long-term rating of BB and a national long-term rating of AA-(rus).

The bonds bear a 10.5% coupon rate.

The issue is due in March 2015 and bondholders have a put option exercisable in March 2014, the agency said, noting that the bank has a long-term foreign currency issuer default rating of BB/negative, short-term issuer default rating of B, a viability rating of B+, support rating of 3 and national rating of AA-(rus)/negative.

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