Fitch rates VEB bonds BBB

Fitch Ratings said it assigned Russian VEB Leasing's (BBB/stable) series 01-04 dollar bonds a long-term rating of BBB.

Fitch said it has also assigned an expected long-term rating of BBB(exp) for the upcoming series 05-10 dollar bonds.

The series 01-04 bonds are non-amortizable, have a maturity of five years and assume a 5.5% coupon rate, while the series 05-10 bonds' final ratings will be contingent on the receipt of final documentation conforming to information already received, the agency noted.

VEB is the leasing arm of Russia's state-owned Vnesheconombank (BBB/stable), which directly holds a 84.6% stake in company.

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