S&P rates Vnesheconombank bonds BBB

Standard & Poor's said it assigned a BBB rating to the series 2 bonds worth $600 million and series 3 bonds worth $1 billion placed by Russian Vnesheconombank.

The series 2 bond has a seven-year maturity and a fixed 5.45% interest rate per year paid semiannually. The series 3 bond has a 15-year maturity and a fixed 6.8% interest rate per year paid semiannually.

The ratings are the same as the foreign-currency issuer credit rating on the bank, S&P said.

The ratings are equalized with those on the Russian Federation, reflecting a view of an "almost certain" likelihood that the Russian government would provide timely and sufficient extraordinary support to if necessary, the agency said.

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