Moody's assigns Expobank bonds Baa2.ru

Moody's Investors Service said it assigned a Baa2.ru national-scale rating to the local currency, ruble-denominated bonds to be issued by Expobank, which will represent a senior unsecured claim on the bank.

The planned issue size is RUR 1 billion with a maturity of three years, the agency said.

Moody's Interfax noted that the Baa2.ru NSR for the bonds is primarily based on the fundamental ability of Expobank, the ultimate obligor in respect of payments under the Bonds, to make timely payments of interest and ultimate payment of principal on the bonds.

The rating does not incorporate support from either Expobank's shareholders or the Russian financial authorities, according to Moody's.

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