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S&P: VTB-Leasing Finance 'BBB+' Long-Term Rating Assigned; Outlook Stable

January 14, 2008 | Cbonds

(PARIS) Standard & Poor's Jan. 11, 2008--Standard & Poor's Ratings Services said today that it assigned its 'BBB+' long-term counterparty rating to Russia-based finance company VTB-Leasing Finance (VTBLF). The outlook is stable.

VTBLF is a special-purpose vehicle of its owner VTB-Leasing (VTBL; BBB+/Stable/A-2), itself 100% owned by Bank VTB (VTB, BBB+/Stable/A-2). VTBLF was established solely for VTB-Leasing debenture issues to be fully guaranteed by VTBL. VTBLF does not and is not expected to carry out any other business.

"The rating mirrors that on VTBL," said Standard & Poor's credit analyst Ekaterina Trofimova. "The rating fully reflects the parent's commitment to meet its financial obligations in a full and timely manner."

The stable outlook mirrors that on the parent, VTBL. In turn, the stable outlook on VTBL mirrors that on VTB and reflects our expectation that VTBL will maintain its core status within the group and sustain leasing business and earnings growth.

Company: VTB-Leasing Finance

Full company nameVTB-Leasing Finance LLC
Country of riskRussia
Country of registrationRussia
IndustryFinancial institutions


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