OREANDA-NEWS. Fitch Ratings has today assigned TuranAlem Finance B.V.'s ("TAF") GBP500 million 7.125% eurobond issue due December 2009 a final Long-term 'BB+' rating.

The issue is guaranteed by Kazakhstan's Bank TuranAlem ("BTA"), rated foreign currency Issuer Default 'BB+'/Stable, local currency Issuer Default 'BBB-' (BBB minus)/Stable, Short-term foreign currency 'B', Short-term local currency 'F3', Individual 'C/D' and Support '3'.

The issue was made within the framework of BTA's and TAF's USD3 billion global medium-term note programme, rated Long-term 'BB+' for senior unsecured foreign currency notes with maturities in excess of one year and Short-term 'B' for senior unsecured foreign currency notes with maturities of less than one year.