Fitch rates Probusinessbank bonds B-

Fitch Ratings said it assigned a long-term local-currency rating of B- to Probusinessbank's RUB 2 billion series 7 senior unsecured bonds due in September 2015.

The agency also assigned a recovery rating of RR4 and a national long-term rating of BB-(rus) to the bonds.

The coupon rate for the first year has been set at 11¾%. The issue has a put option in September 2013.

The bank's obligations under the notes will rank equally with the claims on existing senior unsecured debt, Fitch said.

The proceeds will be used to fund the bank's core business, the agency added.

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