Fitch assigns B+ rating to expected UAH 1bn bonds by VTB Ukraine.

By bne IntelliNews March 10, 2011
Fitch Ratings, an international ratings agency, has assigned expected B+(exp) rating on the forthcoming issue of UAH 1bn bonds by VTB Bank Ukraine. Recovery Ratings of RR4 and National Long-term ratings of AAA(ukr)(exp), were also assigned, the press release said. Bank VTB, Russia holds a 99.92% stake in the VTB Bank public joint-stock company. VTB Bank intends to place UAH 1bn bonds in four tranches (series): Series C to the tune of UAH 300mn, Series D of UAH 200mn, Series E of UAH 300mn, and Series F of UAH 200mn. The notes will be placed on the Perspectiva (Dnipropetrovsk) Stock Exchange. As of Jan 1, VTB Bank's assets amounted to UAH 33,144.6mn, credits and clients' liabilities stood at UAH 30,519.3mn, and shareholders' totaled UAH 4,343.4mn. The bank posted net loss of UAH 483.618mn for 2010.

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