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Fitch rates VTB Capital
Fitch Ratings said it assigned VTB Capital SA's S$300 million of 3.4% senior limited recourse loan participation notes due June 6, 2014 a final long-term rating of BBB.
The proceeds will be used solely for financing loans to Bank VTB, which has long-term foreign- and local-currency issuer default ratings of BBB, a short-term foreign-currency issuer default rating of F3 and a national long-term rating of AAA(rus).
The outlook is stable.
The notes are issued under the bank's loan participation notes program, which is rated BBB/F3.
VTB is Russia's second-largest bank by assets and equity and is currently 75% state-owned.
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