S&P gives Samara Oblast bond BB/ruAA

Standard & Poor's said it assigned its BB long-term global scale rating and ruAA Russia national scale rating to the RUB 7 billion (about $128 million) five-year amortizing senior unsecured bond to be issued by Russia's Samara Oblast (BB/negative/--; ruAA/--/--) on June 25.

The bond will have 20 quarterly fixed-rate coupons and an amortizing repayment schedule. The coupon rate will be defined during the bond placement. According to the redemption schedule, 30% of the bond is to be repaid in 2016, 20% in 2017, 25% in 2019 and the remaining 25% in 2020.

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