Moody's rates Nomos bonds Ba3

Moody's Investors Service said it assigned a Ba3 long-term global local-currency debt rating to Nomos Bank's senior debt, including its RUB 3 billion senior regular bond due Feb. 16, 2011, RUB 5 billion senior regular bond due June 14, 2013, RUB 5 billion senior regular bond due July 2, 2014 and RUB 5 billion senior regular bond due Aug. 28, 2017.

The outlook is stable.

Any subsequent senior debt issuance by Nomos Bank will be rated at the same level subject to there being no material change in the bank's overall credit rating.

The rating assigned is in line with Nomos Bank's global local-currency deposit rating of Ba3 and maps to a baseline credit assessment of Ba3, Moody's said.

The rating does not incorporate any expectation of systemic or shareholder support for Nomos Bank in case of need, the agency added.

The ratings reflect the bank's reasonable position in the market, stemming from its demonstrated ability to develop and diversify both its corporate franchise and its historically established niches, Moody's said.

The ratings are constrained by the bank's relatively high risk appetite, the agency added.

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