OREANDA-NEWS. Fitch Ratings has today assigned IIB Luxembourg S.A.'s upcoming issue of limited recourse loan participation notes expected ratings of Long-term 'B' and Recovery 'RR4'.

The notes are to be used solely for financing a loan to Russia's International Industrial Bank ("IIB"), which is rated Issuer Default 'B' with a Stable Outlook, Short-term 'B', Individual 'D' and Support '5'.

IIB Luxemburg will only pay noteholders amounts (principal and interest) received from IIB under the loan agreement. IIB Luxemburg will grant security over the loan to a trustee, the Bank of New York, for the benefit of noteholders.

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