Moody's rates Baltinvestbank bonds B3

Moody's Investors Service said it assigned Baltinvestbank's RUB 1 billion senior regular bond due April 26, 2011 and RUB 1.5 billion senior regular bond due Sept. 10, 2015 B3 long-term global local-currency debt ratings.

The outlook is stable.

The ratings are constrained by a high level of concentration in the loan book, relatively low capital adequacy levels and high market risk exposure, Moody's said.

The ratings are supported by Baltinvestbank's established banking franchise in Saint Petersburg and healthy net interest margin, the agency said.

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