Moody's affirms Russian Agricultural Bank notes at Baa1

Moody's Investors Service said it affirmed the Baa1 rating with a stable outlook of the upcoming issue of loan participation notes by the RSHB Capital SA, to be issued on a limited recourse basis for the purpose of funding an additional loan to Russian Agricultural Bank (RAB, Baa2/E+/P-2).

The agency said the issue has an expected amount of up to $100 million and is to be consolidated and form a single series with the $250 million senior unsecured loan participation notes that were issued by RSHB Capital Nov. 28.

The notes will mature in 2010 and have a fixed interest rate of 6.875%, Moody's said.

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