Moody's rates Alfa Bank notes Ba3

Moody's Investors Service said it assigned a long-term foreign-currency rating of Ba3 to Alfa Bank Ukraine's upcoming senior unsecured notes expected to be issued by Ukraine Issuance plc, a special-purpose company.

The tenor of the notes is expected to be two years with a 9¼% annual interest rate.

The outlook is stable.

According to Moody's, the Ba3 rating is based on the fundamental credit strength of Alfa Bank, rated Ba3/Not Prime/E+/Aa1.ua, and does not incorporate any potential systemic support from the Ukrainian authorities.

It does incorporate a moderate probability of parental support from the bank's affiliated companies.

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