S&P gives BB to Irkutsk Oblast bonds

S&P Global Ratings said it assigned its BB long-term global scale issue credit rating and its ruAA Russia national scale rating to the proposed RUB 5 billion five-year amortizing senior unsecured bond that Russia's Irkutsk Oblast (BB/stable/--; ruAA) plans to issue on Dec. 26.

The bond will have 20 fixed-rate coupons and an amortizing repayment schedule. The coupon rate will be defined during the bond placement.

According to the redemption schedule, 20% of the bond is to be repaid in 2019, 30% in 2020 and 50% in 2021, S&P said in a news release.

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