Fitch rates Vnesheconombank bonds BBB

Fitch Ratings said it assigned a final long-term local-currency rating of BBB to Vnesheconombank's RUB 15 billion senior unsecured bonds due in February 2032.

The bonds have a put option in March 2015. The coupon rate for the first three years has been set at 8.4%.

The ratings are driven by a high probability of support from the Russian sovereign due to its sole ownership by the state, its status as a national development bank and the special legal regime, Fitch said.

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