Fitch rates Bank VTB bonds BBB

Fitch Ratings said it assigned Bank VTB (JSC)'s three issues of senior unsecured stock exchange bonds, series 1 and 2, each for RUB 5 billion, and series 5 for RUB 10 billion, long-term local-currency ratings of BBB and national long-term ratings of AAA(rus). All three issues have a maturity date of March 15, 2013 and a coupon rate of 7.6%.

The bank's obligations under the notes rank equally with the claims of other senior unsecured creditors, except the claims of retail depositors, Fitch said. Under Russian law, the claims of retail depositors rank above those of other senior unsecured creditors.

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