Fitch rates Ak Bars Bank bond A-(rus)

Fitch Ratings said it assigned an A-(rus) national long-term rating to Ak Bars Bank's upcoming three-year RUB1.5 billion bond issue. Ak Bars is rated B+ long-term, B short-term, D individual, 4 support and A-(rus) national long-term.

The outlook is stable.

Fitch said the bank's obligations under the issue will rank at least pari passu with the claims of other senior unsecured creditors of Ak Bars, save those preferred by relevant legislation. Under Russian law, the claims of retail depositors rank above those of other senior unsecured creditors.

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