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S&P rates SME bond BBB+
Standard & Poor's said it assigned its BBB+ issue credit rating to an RUB 5 billion bond to be placed by SME Bank on Aug. 23.
The bonds have a 10-year maturity and a fixed coupon paid semi-annually.
The agency said the rating on the bonds is equalized with the long-term local currency issuer credit rating on the bank.
S&P said the ratings on SME Bank reflect its view that the bank is a core subsidiary to its 100% owner, Vnesheconombank, a government-related entity with an almost certain likelihood of support from the Russian Federation.
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