TEXT-Fitch asgns Sistema International Funding S.A.’s USD500m LPNs final ‘BB-‘ rtg

May 24 – Fitch Ratings has assigned Sistema International Funding S.A.’s USD 500m 6.95% loan
participation notes (LPNs) due 2019 ‘BB-‘ final rating. The proposed notes were issued on a
limited recourse basis for the sole purpose of funding a loan by Sistema International Funding
S.A. to Sistema Joint Stock Financial Corp. (Sistema, ‘BB-‘/Stable). LPN
holders largely benefit from the same rights, and face the same risks as senior unsecured
creditors to Sistema.