S&P rates Vnesheconombank bond BBB

Standard & Poor's said it assigned a final BBB rating to the first series of $1 billion global bonds issued by Vnesheconombank, which has foreign-currency ratings of BBB and A-3, local-currency ratings of BBB+ and A-2 and a stable view.

The bond has a 10-year maturity and a fixed 6.902% interest rate per annum paid semiannually.

The ratings on the bank are the same as those on the Russian Federation, reflecting an almost certain likelihood that the Russian government would provide timely and sufficient extraordinary support to the bank if necessary, S&P said.

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