Moody's rates Alfa Bank note Ba2

Moody's Investors Service said it assigned a Ba2 rating to the fourth drawdown under the $1 billion euro medium-term note program of Alfa MTN Issuance Ltd., Alfa MTN Markets Ltd., Alfa MTN Invest Ltd. and Alfa MTN Projects Ltd.

The $400 million drawdown is unconditionally and irrevocably guaranteed by ABH Financial Ltd. and Russia-based OJSC Alfa Bank, and the outlook is stable.

The agency said the Ba2 rating is based on the fundamental credit strength of Alfa Bank and does not incorporate any potential support from the authorities in case of need.

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