Fitch rates VEB notes BBB

Fitch Ratings said it assigned VEB Leasing Invest Ltd.'s $400 million of 5.125% notes due May 27, 2016 a final long-term BBB rating.

The proceeds from the issue will be on-lent to OJSC VEB-Leasing.

VEB Leasing has a long-term issuer default rating of BBB/stable, short-term issuer default rating of F3 and national long-term rating of AAA(rus)/stable.

VEB Leasing's ratings reflect the likelihood of support from its parent if needed, the agency said. The company has been integrated within VEB, which plays a key role in all material business decisions.

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