S&P gives Samara bond BB+

Standard & Poor's said it assigned its BB+ local currency global-scale rating and ruAA+ Russia national-scale senior unsecured debt rating to the proposed RUR 8.3 billion fixed-coupon domestic bond issue by Samara Oblast (BB+/stable, Russia national-scale rating ruAA+).

"The issue will be placed on June 26, 2008, with a five and one-half year amortization and will have 22 fixed-coupon payments," said S&P credit analyst Boris Kopeykin.

The ratings on the bond mirror those on Samara Oblast, one of the key industrial regions in the Russian Federation (foreign currency BBB+/positive/A-2, local currency A-/positive/A-2, Russia national-scale ruAAA), the agency noted.

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