Fitch rates Yaroslavl bond BB-

Fitch Ratings said it assigned Yaroslavl Region's upcoming RUB 3 billion domestic bond due April 15, 2014 an expected long-term local-currency rating of BB- and an expected national long-term rating of A+(rus).

The region has long-term foreign- and local-currency ratings of BB-, a short-term foreign-currency rating of B and a national long-term rating of A+(rus).

The outlook is positive.

The bond has a fixed step-down coupon between 8% and 7.25% per year, Fitch said.

The proceeds from the new bond will be used to finance the region's budget deficit, the agency said.

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