Fitch rates Kazan bond B+

Fitch Ratings said it assigned the city of Kazan's RUB 2 billion 12% domestic bond due December 2011 a final long-term local-currency rating of B+ and a final national long-term rating of A(rus).

The city is rated long-term foreign- and local-currency B+ with stable outlook, short-term foreign-currency B and national long-term A(rus) with stable outlook.

Proceeds will be used to finance the city's budget deficit.

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