OREANDA-NEWS. Fitch Ratings has today assigned Astana Finance B.V.'s ("AFBV") USD175 million 9% eurobond due 2011 (ISIN Code: XS0275278256) a final Long-term rating of 'BB+'.

The bond is guaranteed unconditionally and irrevocably by JSC Astana Finance ("AF", rated Issuer Default 'BB+') and AF's subsidiary, JSC Leasing Company Astana-Finance ("the guarantors").

AF was created in 1997 by the municipality of Astana to facilitate development finance (loans, leasing and equity) for Astana, the rapidly growing new capital of Kazakhstan and for the surrounding Akmola region. It has since also diversified geographically and into certain aspects of investment banking. AF is 25.5%-owned by the municipality of Astana.