S&P gives Tomsk Oblast bond ruA+

Standard & Poor's said it assigned its ruA+ Russia national-scale senior unsecured debt rating to the proposed RUR 400 million domestic bond to be issued by the Tomsk Oblast (Russia national-scale ruA+).

The agency said that the bond is amortizing, step-down, will carry a fixed coupon and will mature in 2012 and the issue will be placed on Dec. 17 and will have 10 semiannual coupon payments, with 25% of the principal to be repaid annually in 2010-2011 and another 50% in 2012.

"The bond will be issued to refinance existing debt and to fund capital expenditures," said S&P credit analyst Boris Kopeykin.

"The rating on the bond is equalized with the national-scale rating on the oblast."

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