Moody's gives Alfa Bank Ukraine 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.

The notes will be issued on a limited recourse basis with the sole purpose of financing senior unsecured loans to Alfa Bank Ukraine, the agency added.

The tenor of the notes is expected to be five years with a put option after three years, Moody's said, adding that the amount and interest rate of the notes will be determined by market conditions.

The outlook is stable.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.