KIEV, Aug. 23 -- Moody's Investors Service confirmed the B3 rating for the senior unsecured loan participation notes due 2011 issued by Azovstal Capital B.V., a Dutch special purpose vehicle.

The notes are issued for the sole purpose of financing Azovstal Capital B.V.'s 100% sub-participation in a loan extended by Moscow Narodny Bank Limited to Azovstal Iron and Steel Works ("Azovstal" or "the company"). The corporate family rating of Azovstal was left unchanged at B2.