Fitch Ratings has today assigned Standard Bank p.l.c.'s upcoming issue of limited recourse loan participation notes expected ratings of Recovery 'RR4' and Long-term 'B-' (B minus).

The notes are to be used solely for financing a loan to Ukraine-based Bank Forum ("Forum"), which is rated Issuer Default ("IDR") 'B-' (B minus), Short-term 'B', Individual 'D/E', Support '5'. The Outlook on the IDR is Stable.

The final ratings are contingent upon receipt of final documentation conforming materially to information already received.