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RUSSIA: MOODY'S ASSIGNS A2 TO BANK VTB'S LOAN PARTICIPATION NOTES.
IPR Strategic Business Information Database, May, 2008
Moody's Investors Service has assigned an A2 foreign currency debt rating to Loan Participation Notes issued by VTB Capital S.A. -- the Luxembourg-based special purpose vehicle -- on a limited recourse basis, for the sole purpose of financing senior unsecured and subordinated loans to Russian Joint Stock Company Bank VTB ("Bank VTB", formerly known as Vneshtorgbank).
The rating outlook is stable. This issue is part of the US$20 billion Programme No2 ("the Programme") which was established by VTB Capital S.A. in October 2007. The amount of the issue is US$2 billion. The notes carry a fixed-rate coupon of 6.875%, and mature in ten years with a five-year put option. Moody's said that Bank VTB's A2 long-term foreign currency debt ratings of senior unsecured...
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