S&P rates Credit Bank of Moscow LPNs BB-

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

The agency said it rates the proposed LPNs at the same level as the long-term counterparty credit rating on the bank because the notes meet certain conditions regarding issuance by special-purpose vehicles set out in the group rating methodology.

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