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Fitch: VTB Capital notes BBB
Fitch Ratings said it assigned a final long-term rating of BBB to VTB Capital SA's $1.5 billion 6% five-year issue of limited recourse loan participation notes due April 12, 2017.
The proceeds will be used solely for financing loans to Russia's Bank VTB, which has a long-term foreign- and local-currency issuer default rating of BBB, short-term foreign-currency issuer default rating of F3, viability rating of BB and national long-term rating of AAA(rus).
The outlook is stable.
The notes were issued under the bank's loan participation notes program, Fitch said.
The bank is Russia's second-largest bank by assets and equity and is currently 75% state-owned, the agency said.
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