Moody's rates Vostochny notes B2

Moody's Investors Service said it assigned a B2 long-term global local-currency debt rating to Vostochny Express Bank's senior unsecured debt, including its RUB 1 billion senior unsecured regular bond due 2013.

The outlook is stable.

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

The assigned rating is in line with the bank's global local-currency deposit rating, which is based on the bank's E+ bank financial strength rating, which maps to a baseline credit assessment of B2, the agency said.

The rating also consider the bank's high appetite for credit risk, reflected by the bank's aggressive growth strategy and by its emphasis on the riskiest segment of the retail loan market - unsecured consumer lending, Moody's said.

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