Fitch: RZD Capital notes BBB

Fitch Ratings said it assigned a final senior unsecured BBB rating to RZD Capital Ltd.'s £300 million of 7.487% loan participation notes due March 25, 2031.

The new notes have been consolidated and form a single series with the outstanding £350 million of 7.487% loan participation notes due 2031, Fitch said.

The notes have been issued on a limited recourse basis for the sole purpose of funding a loan by RZD Capital Ltd. to JSC Russian Railways.

The proceeds of the loan will be used by the company in the ordinary course of its business. The noteholders rely solely on RZD's credit and financial standing for the payment of obligations under the further notes, the agency said.

RZD Capital's ratings also include a long-term foreign-currency issuer default rating of BBB, long-term local-currency issuer default rating of BBB, foreign-currency senior unsecured rating of BBB, local-currency senior unsecured rating of BBB, short-term foreign-currency issuer default rating of F3, short-term local-currency issuer default rating of F3, national long-term rating of AAA(rus) and national senior unsecured rating of AAA(rus).

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