Fitch rates Vneshtorgbank notes BB+

Fitch Ratings said it assigned VTB Capital SA's $450 million loan participation notes due October 2011 a long-term BB+ rating.

Proceeds from the notes will be used to finance a deposit with Deutsche Bank Luxembourg SA for the purpose of financing a loan to Russia's JSC Vneshtorgbank.

The issue is the fourth under VTB's $2 billion loan participation note program, which is rated at long-term BB+ for senior notes with maturities in excess of one year and short-term B for senior notes with maturities of less than one year.

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