OREANDA-NEWS. Fitch Ratings has today assigned final Long-term 'BBB+' ratings to VTB Capital S.A.'s recent issues of limited recourse notes, as below:
EUR1bn floating rate (3 month EURIBOR + 0.6%) notes due March 2009
GBP300m 6.332% notes due March 2010.

The notes finance VTB Capital's fiduciary deposits with Deutsche Bank Luxembourg S.A. for the purpose of financing loans to Russia's Bank VTB.

The notes are issued under the bank's loan participation notes programme, which is rated Long-term 'BBB+' and Short-term 'F2'. Fitch notes that the programme was updated in October 2006, but its main terms and conditions remain unchanged.