Moody's rates Eurasian Bank bond B1

Moody's Investors Service said it assigned a B1 long-term local-currency debt rating to the local-currency denominated bond issue of Eurasian Bank (Kazakhstan). The bond represents a senior unsecured claim on the bank.

The outlook is negative, in line with the negative outlook on the bank's long-term bank deposit ratings.

The obligations of Eurasian Bank to make payments under the senior unsecured bond issue will rank at all times at least pari passu with the claims of all other unsecured and unsubordinated creditors of the bank, Moody's said.

The negative outlook reflects continued pressure on the bank's credit profile from the still tough credit conditions in Kazakhstan, the agency said.

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