OREANDA-NEWS. Fitch Ratings has today assigned Alfa Bond Issuance PLC's USD300m issue of limited recourse 8.635% loan participation notes due February 2017 a Long-term rating of 'B+'.

The notes are to be used solely for financing a subordinated loan to Russia's Alfa Bank ("Alfa", rated Issuer Default 'BB-' (BB minus)/Positive Outlook, Short-term 'B', Support '4', Individual 'C/D' and National Long-term 'A+(rus)'/Positive Outlook).

The issuer will only pay noteholders amounts (principal and interest), if any, received from Alfa under the loan agreement.