Fitch assigns NKNK notes B+

Fitch Ratings said it assigned NKNK Finance plc's issue of $200 million of 8.5% loan participation notes a final senior unsecured B+ rating.

The agency said the notes have a maturity of 10 years but contain a five-year put option and will be repaid in equal installments from 2010 in a straight-line amortization.

The company's purpose is to issue the notes and lend, under a loan agreement, the proceeds to Nizhnekamskneftekhim Inc., also named OAO Nizhnekamskneftekhim (senior unsecured B+/stable/short-term B), the agency said.

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