Moody's: Metcombank, bond B3

Moody's Investors Service said it assigned a B3 long-term global local-currency senior unsecured debt rating to Metallurgical Commercial Bank (Metcombank), along with B3 ratings on its RUB 900 million senior unsecured regular bond due Nov. 26, 2013 and RUB 1.5 billion senior unsecured regular bond due Aug. 2, 2014.

The outlook is positive.

Any subsequent senior debt issuance by Metcombank 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.

The debt rating is in line with the bank's global local-currency deposit rating of B3 and B3 long-term scale rating.

The rating does not incorporate any expectation of systemic or shareholder support for Metcombank in case of need, Moody's said.

The ratings are constrained by the bank's low visibility on the market, the agency said, and large credit and funding risk concentrations on its balance sheet.

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