Moody's rates AHML notes Baa1

Moody's Investors Service said it assigned a Baa1 (stable outlook) long-term local-currency senior debt rating to the RUB 15 billion loan participation notes due February 2018 that have been issued by AHML Finance Ltd (Ireland) for the sole purpose of financing a loan to OJSC Agency For Housing Mortgage Lending.

The agency said the loan agreement contains a negative pledge clause and certain other covenants, including a limitation on disposals by AHML and its subsidiaries, and it stipulates that AHML shall not allow its consolidated total equity-to-consolidated total assets ratio to fall below 15%.

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