Fitch: RZD Capital notes BBB

Fitch Ratings said it assigned RZD Capital Ltd.'s 7.487% coupon £350 million loan participation notes maturing on March 25, 2031, a final senior unsecured BBB rating.

RZD Capital has a long-term foreign-currency issuer default rating of BBB, long-term local-currency issuer default rating of BBB, foreign-currency senior unsecured rating of BBB, local-currency senior unsecured rating of BBB, short-term foreign-currency issuer default rating of F3, short-term local-currency issuer default rating of F3, national long-term rating of AAA(rus) and national senior unsecured rating of AAA(rus).

The notes were issued on a limited recourse basis for the sole purpose of funding a loan to JSC Russian Railways.

The proceeds will be used in the ordinary course of its business, Fitch said.

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