Fitch assigns VTB notes BBB+

Fitch Ratings said it assigned VTB Capital SA's upcoming issue of euro-denominated limited recourse loan participation notes an expected long-term BBB+ rating.

The agency said that the proceeds are to be used solely for financing a loan to Bank VTB, rated long-term foreign and local currency issuer default BBB+, short-term foreign currency issuer default rating F2, support 2, individual C/D, national long-term AAA(rus) and support rating floor BBB+.

The outlooks for VTB's long-term issuer default ratings and national long-term rating are stable, Fitch said, adding that the notes are issued under the bank's loan participation notes program, which is rated long-term BBB+ and short-term F2.

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