Moody's rates Alfa Bank loans Ba3

Moody's Investors Service said it assigned a long-term foreign currency rating of Ba3 to the $1 billion program for the issuance of loan participation notes by Ukraine Issuance Plc incorporated under the laws of the United Kingdom. The agency rated first drawdown of $200 million at Ba3.

The notes will be issued on a limited recourse basis for financing senior unsecured loans to Alfa Bank Ukraine. The tenor, currency and the price of the notes will be defined individually for each tranche.

The outlook is stable.

The Ba3 ratings reflect the fundamental credit strength of Alfa Bank and consider moderate probability of parent support.

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