Fitch gives Promsvyazbank notes B+, B, B-

Fitch Ratings said it assigned PSB Finance SA's $3 billion loan participation notes program the following final ratings: senior unsecured notes at long-term B+, short-term B and subordinated notes at long-term B-.

Fitch said it has also assigned the final ratings of long-term B+ and recovery RR4 to the program's series 2 issue, which is a $150 million of 10¾% senior unsecured obligation with final maturity in July 2013, put option in July 2011.

The agency noted that PSB Finance will use the proceeds from the notes to finance a loan to Promsvyazbank.

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