Fitch rates VEON Holdings notes BBB-

Fitch Ratings said it assigned VEON Holdings BV’s prospective new notes an expected rating of BBB-. The issuer is a subsidiary of VEON Ltd., also rated BBB-.

The notes are structured as senior unsecured obligations and rank equally with VEON’s existing senior unsecured debt, Fitch said.

Proceeds will be used to refinance existing debt at the holdco and opco levels.

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