Fitch rates Vneshtorgbank note BBB+

Fitch Ratings said it assigned a final BBB+ long-term rating to VTB Capital SA's $1.75 billion issue of limited recourse floating-rate notes due 2008.

The notes will finance VTB Capital's fiduciary deposits with Deutsche Bank Luxembourg SA for the purpose of financing loans to Russia-based JSC Vneshtorgbank, which is rated local- and foreign-currency issuer default BBB+, short-term F2, support 2, individual C/D and has a stable outlook.

The notes were issued under Vneshtorgbank's loan participation notes program, which is rated BBB+ for long-term debt and F2 for short-term debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.