Fitch rates Vneshtorgbank floaters BBB

Fitch Ratings said it assigned VTB Capital SA's $1billion issue of floating-rate loan participation notes due September 2007 a final long-term BBB rating.

The notes are to finance VTB Capital's fiduciary deposits with Deutsche Bank Luxembourg SA for the purpose of financing loans to JSC Vneshtorgbank (long-term foreign currency BBB/stable outlook, short-term F3, support 2, individual C/D).

The agency noted this is the seventh issue under the bank's loan participation notes program (long-term BBB, short-term F3) and the total size of the program has been increased to $10 billion.

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