Fitch: CBOM Finance notes B+

Fitch Ratings said it assigned an expected long-term rating of B+ to CBOM Finance plc's upcoming issue of limited recourse loan participation notes.

The proceeds are to be used solely for financing a loan to Credit Bank of Moscow, which has a long-term issuer default rating of B+, short-term issuer default rating of B, national long-term rating of A-(rus) and viability rating of B+.

The outlook is stable.

The notes will have a put option exercisable if the current majority shareholder ceases, at any time, to control directly or indirectly 50% plus one share of the bank, or if the notes' or the bank's credit rating is downgraded, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.