Fitch gives Ipoteka Bank bonds BB-

Fitch Ratings said it assigned Ipoteka-Bank’s upcoming issue of dollar-denominated senior unsecured eurobonds an expected long-term rating of BB-.

The offering is expected to be about $300 million. The interest rate and the tenor are yet to be determined, Fitch said.

“The expected rating is in line with Ipoteka’s long-term issuer default rating of BB-, as the notes will represent unconditional, senior unsecured obligations of the bank, which rank pari passu with its other senior unsecured obligations,” the agency said in a press release.

Ipoteka plans to use the proceeds to finance its foreign-currency lending portfolio.

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