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Fitch rates Russian VEB Leasing bonds BBB
Fitch Ratings said it assigned Russian VEB Leasing's issue of fixed-rate RUB five billion senior unsecured bonds series 1 a final long-term rating of BBB. The bonds mature in July 2020. The company has a long-term foreign- and local-currency issuer default ratings of BBB and short-term foreign-currency issuer default rating of F3.
The outlook is stable.
Russia VEB Leasing is the leasing arm of Russia's state-owned Vnesheconombank, which holds a 78% stake in the company.
The ratings reflect the likelihood of support from its parent in the event of need, Fitch said.
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