Fitch: Rosbank bonds BBB+

Fitch Ratings said it assigned a long-term rating of BBB+ to Rosbank's issue of 8.95% senior bonds series BO-3 with a nominal value of RUB 10 billion.

The agency also assigned a national long-term rating of AAA(rus) to the bonds.

The outlook is positive.

The bank's obligations under the notes will rank equally with the claims on the existing senior debt. The proceeds will be used to fund its core business and to diversify its funding base, Fitch said.

The bank's BBB+ long-term issuer default rating is driven by potential support the bank may receive from its majority shareholder, Societe Generale, the agency said, and constrained by the Russian country ceiling of BBB+.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.