Moody's rates ING Eurasia bond Baa1

Moody's Investors Service said it assigned a Baa1 long-term global local currency debt rating to ING Bank Eurasia's proposed domestic bond issuance.

The issuance will comprise two series for a total of RUB 10 billion, the agency said, adding that the rating carries a negative outlook, which is the result of the negative outlook on the bank financial strength rating of its parent, ING Bank NV (Aa3/P-1/C+).

Any subsequent senior debt issuance by ING Bank Eurasia will be rated at the same rating level subject to there being no material change in the bank's overall credit rating, Moody's said.

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