Fitch assigns Locko notes B-

Fitch Ratings said it assigned Locko Finance plc's RUR 3billion 10.5% issue of limited recourse loan participation notes due 2009 a final of long-term B- rating and Recovery rating RR4.

The notes are to be used solely for financing a loan to Locko-Bank, the agency said, adding that Locko is rated long-term foreign and local currency issuer default B-, short-term issuer default rating B, individual D, support 5 and national long-term BB+(rus).

The outlooks for the foreign and local currency long-term issuer default rating and national long-term rating are stable, Fitch said.

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