Fitch rates Vnesheconombank

Fitch Ratings said it assigned a final long-term foreign-currency rating of BBB to Vnesheconombank's $500 million bonds issue due Feb. 20, 2015.

The rate of the first coupon has been set at 3.3%. The bonds have a put option on Feb. 21, 2013.

The ratings are driven by a high probability of support from the Russian sovereign, Fitch said, due to its sole ownership by the state, its status as a national development bank, the special legal regime, the directed nature of some operations and the significant amount of funding and capital provided by the state.

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