S&P: ABH Financial notes B+

S&P said it assigned a B+ long-term issue rating to the proposed euro-denominated senior unsecured loan participation notes to be issued by ABH Financial Ltd. via its special-purpose vehicle, Alfa Holding Issuance plc.

ABH Financial Ltd. is a non-operating holding company and the parent of Alfa-Bank.

Alfa Holding Issuance will issue the notes under the €1.2 billion program that finances loans to ABH Financial, S&P said.

The agency said it currently understands that the targeted amount of the proposed issue is subject to market interest within the unutilized program limit.

The maturity of the issue will be up to five years, subject to market conditions, S&P said.

The rating on the proposed notes is B+, which is the equivalent rating level of the underlying borrower, ABH Financial Ltd., the agency said.

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