OREANDA-NEWS. Fitch Ratings has today assigned PBB LPN Issuance Limited's upcoming USD20 million notes issue, due in May 2008, an expected Recovery rating of 'RR4' and an expected Long-term rating of 'B-' (B minus).

The notes are issued under the USD100m loan participation programme established in July 2005 (rated Long-term 'B-' (B minus) for issues with initial maturities of more than one year and Short-term 'B' for issues with initial maturities of up to one year).

The proceeds from the notes are to be used solely for financing a loan to Russia's JSC Probusinessbank ("PBB", rated Long-term Issuer Default 'B-'(B minus) with Stable Outlook, Short-term 'B', Individual 'D', Support '5' and National Long-term 'BB+(rus)'/Stable Outlook).

The final rating of the issue is contingent upon receipt of final documentation conforming materially to information already received.