Fitch rates VEON notes BBB-

Fitch Ratings said it assigned VEON Holdings BV’s proposed issue of new ruble-denominated notes a BBB- rating. The issuer is a subsidiary of VEON Ltd.

The notes are structured as senior unsecured obligations and are pari passu with VEON’s other senior unsecured debt.

The group intends to apply the proceeds for general corporate purposes, including the refinancing of debt.

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