Moody's may boost Expobank

Moody's Investors Service said it placed on review for possible upgrade the B3 long-term global-scale local and foreign currency deposit ratings of Expobank.

Concurrently, Moody's said it placed Expobank's Baa2.ru national Scale rating and the Baa2.ru national-scale rating of its ruble-denominated bonds on review for possible upgrade.

Moody's noted that the review for possible upgrade was prompted by the announcement on March 3 that Barclays Bank plc (Aa1/Prime-1/stable;B+/negative) has entered into an agreement with Petropavlovsk Finance LLC to acquire 100% of Expobank's shares for a consideration of $745 million, which Barclays will finance out of existing cash resources.

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