Moody's rates Transcapitalbank debt B2

Moody's Investors Service said it assigned a long-term foreign-currency debt rating of B2 to the loan participation notes to be issued on a limited recourse basis by TransRegionalCapital Ltd. for the purpose of funding a subordinated loan to Transcapitalbank.

The outlook is positive.

The issue amount has not been confirmed. The bank will use the proceeds of the subordinated loan for general corporate purposes.

According to the loan agreement, Transcapitalbank will have an option to prepay the subordinated loan if the Central Bank of Russia fails to unconditionally approve it or if it ceases to qualify as own funds.

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