Fitch rates Probusinessbank notes B-

Fitch Ratings said it assigned a final B- long-term rating with a recovery rating of RR4 to PBB LPN Issuance Ltd.'s 8¼% $9 million and 7¼% €16 million notes, both due in August 2007.

The notes were issued under a $100 million loan participation program established in July 2005 and are limited-recourse obligations of the issuer. Noteholders will rely solely on PBB meeting its obligations under the loan agreement, Fitch said.

Proceeds from the notes will be used solely for financing a loan to JSC Probusinessbank (B-/stable/B).

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