Moody's rates National Standard Bank bonds B3

Moody's Investors Service said it assigned a B3 long-term local-currency debt rating to the series 01 of RUR2 billion bonds due in three years with a one-year put option issued in May 2008 by NS Finance, a wholly owned subsidiary of National Standard Bank. The agency also assigned a long-term national-scale rating of Baa3.ru to this bond issue. The bank is rated B3/not-prime for long- and short-term foreign- and local-currency deposits and E+ for financial strength.

The outlook is stable.

Moody's said the ratings are primarily based on the fundamental ability of the bank to make timely payments of interest and ultimate payment of principal on the bonds.

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