Moody's rates International Industrial Bank notes B1

Moody's Investors Service said it assigned a long-term rating of B1 to the upcoming issue of loan participation notes by IIB Luxembourg SA, the proceeds of which will be used to make a loan to International Industrial Bank of Russia.

The outlook is stable.

The bank's existing B1/NP long- and short-term foreign currency deposit ratings and E+ financial strength rating remain unaffected.

The B1 rating is based on the fundamental ability of the bank to make timely payments of interest and ultimate payment of principal on the loan. The rating does not incorporate support from either the bank's shareholder or the regulator, Moody's said.

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