OREANDA-NEWS. Moody's Interfax Rating Agency has today assigned a Baa2.ru national scale rating (NSR) to the local currency- (ruble) denominated bonds to be issued by Expobank, which will represent a senior unsecured claim on the bank (although subordinated to several other classes of creditors which, under Russian law, enjoy priority treatment in the event of bankruptcy).

The planned issue size is RUR1 billion (approximately US$38.5 million) with a maturity of three years.

Moody's Interfax notes that the Baa2.ru NSR for the Bonds is primarily based on the fundamental ability of Expobank, the ultimate obligor in respect of payments under the Bonds, to make timely payments of interest and ultimate payment of principal on the Bonds.

The rating does not incorporate support from either Expobank's shareholders or the Russian financial authorities.