OREANDA-NEWS. Fitch Ratings has today assigned VTB Europe Finance B.V.'s (formerly Moscow Narodny Finance B.V.) recent USD500m floating-rate notes issue a Long-term rating of 'BBB'.

The notes were issued under its USD2bn global medium-term note programme, guaranteed by VTB Bank Europe Plc (formerly Moscow Narodny Bank Limited). The issue is a two-year, floating-rate deal.

VTB Bank Europe Plc (Issuer Default 'BBB'/Stable Outlook, Short-term 'F3', Support '2', Individual 'C') is a fully-licensed UK bank that is approximately 92%- owned by Russian based Bank VTB.