OREANDA-NEWS. Fitch Ratings has today assigned Absolut Finance S.A.'s recent USD175m 9.125% eurobond issue due March 2010 a final Long-term 'B' rating and a final Recovery Rating 'RR4'.

The notes are to be used solely for financing a deposit with Russia's Absolut Bank ("Absolut"), which is rated Issuer Default ("IDR") 'B', Short-term 'B', Individual 'D', Support '5' and National Long-term 'BBB(rus)'. The Outlooks on both the IDR and the National Long-term rating are Stable.

Fitch notes that covenants regarding the bank's capitalisation have been changed since the assignment of expected ratings to the notes.