OREANDA-NEWS. The Bank of Russia put TransCreditBank on the list of credit institutions who can provide surety for its credits.

 This list includes credit institutions with at credit ratings of appropriate level from at least one international credit rating agencies - long-term foreign currency obligations rated “B+” by S&P or Fitch Ratings or “B1” - by Moody’s Investors.

 TransCreditBank has ratings “BB” with “positive outlook” from Standard&Poor’s (assigned in June 2007) and “Ba3/under revision with potential upgrade” from Moody’s (May 2007).

 In its documents the Bank of Russia states that credits secured by pledge of promissory notes, claims under loan agreements of credit institutions or by surety of credit institutions are issued with tenure of up to 180 calendar days, with a prepayment option; the interest rate is charged at 6% p.a. for up to 90 days’ maturities and at 7.5% p.a. for 91-180 days.