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Fitch rates Bank of Moscow bond AA+(rus)
Fitch Ratings said it assigned Bank of Moscow's RUR 10 billion senior bond due February 2013 a national long-term AA+(rus) rating. The bank has a BBB long-term issuer default rating, F3 short-term issuer default rating, support rating of 2, individual rating of D and AA+(rus) national long-term rating.
The outlook is stable.
The terms of the issue provide a yearly put option to bondholders. The bank's obligations will rank at least equally with the claims of other senior unsecured creditors, except those preferred by law.
A significant share of the bank's business is concentrated in the city of Moscow; however, focus has been given to regional development, Fitch said.
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