Fitch rates VTB notes BBB+

Fitch Ratings said it assigned VTB Capital SA's RUR 30 billion 7¼% issue of limited recourse loan participation notes due November 2008 a final long-term rating of BBB+.

Proceeds will be used to finance a loan to Bank VTB (JSC), rated long-term foreign- and local-currency issuer default ratings BBB+, short-term issuer default rating F2, support 2, individual C/D, national long-term AAA(rus) and support floor BBB+.

The outlook for the long-term issuer default ratings and national long-term rating is stable.

The notes are issued under the bank's loan participation notes program, rated long-term BBB+ and short-term F2.

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