OREANDA-NEWS. Fitch Ratings has today assigned Zenit Capital P.L.C.'s upcoming loan participation notes issue an expected Long-term 'B' rating and an expected Recovery Rating 'RR4'.

The notes are to be used for the sole purpose of funding a loan to Russia-based Bank Zenit ("Zenit"), which is rated Issuer Default 'B', Short-term 'B', Individual 'D', Support '5' and National Long-term 'BBB-(BBB minus)(rus)'. The Outlooks on both the Issuer Default and the National Long-term ratings are Stable.

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