Fitch rates Credit Bank of Moscow Eurobond BB-

Fitch Ratings said it assigned an expected BB- rating to Credit Bank of Moscow’s upcoming subordinated eurobond issue with write-off features.

The bank has a long-term foreign- and local-currency issuer default ratings of BB, short-term foreign-currency issuer default rating of B, viability rating of BB and national long-term rating of AA-(rus).

The bank’s new-style tier 2 subordinated debt issue was rated one notch lower than the bank’s viability rating, Fitch said.

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