Moody's rates Pivdennyi notes B1

Moody's Investors Service said it assigned a rating of B1 on $100 million loan participation notes due 2010 issued by Standard Bank plc on a limited recourse basis for the purpose of funding an unsecured and unsubordinated loan to Bank Pivdennyi.

The outlook is stable.

The B1 rating is based on the fundamental credit quality of Pivdennyi and is not constrained by Ukraine's Ba3 (positive outlook) foreign-currency sovereign ceiling for bonds, Moody's said.

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