Fitch rates Probusinessbank notes B-

Fitch Ratings said it assigned PBB LPN Issuance Ltd.'s upcoming notes issue an expected recovery rating of 4 and expected long-term rating of B-. The final rating is contingent upon the receipt of final documents.

The proceeds will be used to finance a loan to Probusinessbank, rated long-term issuer default B-, short-term issuer default B, national long-term BB+(rus) and positive outlook.

The notes are to be issued under the loan participation program established in July 2005 and rated long-term B- for issues with initial maturities of more than one year and short-term B for issues with initial maturities of up to one year, Fitch said.

The notes will rank at least equally with the claims of other senior unsecured creditors of PBB, except those claims that are preferred by law, the agency said.

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