S&P rates Credit Bank of Moscow notes BB

S&P said it assigned its BB long-term issue rating to the planned dollar-denominated senior unsecured loan participation notes to be issued by Credit Bank of Moscow via its financial vehicle, CBOM Finance plc.

“We rate the proposed LPNs at the same level as our long-term issuer credit rating on Credit Bank of Moscow (BB/stable/B), because the notes meet certain conditions regarding issuance by special-purpose vehicles (SPVs) set out in our group rating methodology,” the agency said in a press release.

CBOM will lend the proceeds to Credit Bank of Moscow.

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