Moody's rates Credit Bank of Moscow notes B1

Moody's Investors Service said it assigned a B1 long-term foreign-currency rating to the loan participation notes to be issued on a limited recourse basis by CBOM Finance plc for the sole purpose of funding a loan to Credit Bank of Moscow.

The outlook for the rating is stable.

Moody's said the rating for the notes is based on the fundamental credit quality of Credit Bank of Moscow - the ultimate obligor under the transaction - and on the key features of the notes, which will constitute senior unsecured obligations of the bank.

The B1 rating does not incorporate any support in the event of need from the bank's shareholders given that, while such support cannot be ruled out, its scope and timeliness are somewhat uncertain, the agency noted.

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