Moody's rates Russian Standard Bank notes Ba3

Moody's said it assigned a definitive rating of Ba3 to the $300 million 8.125% loan participation notes due 2008 issued by Russian Standard Finance SA.

The notes are used to fund a loan to the Closed Joint Stock Co. Russian Standard Bank, a bank established under the laws of the Russian Federation.

Moody's said the Ba3 rating is based primarily on the strength of the structure, the ability of Russian Standard Bank, the ultimate obligor in respect of payments under the notes, to make timely payments of interest and ultimate payment of principal on the loan and the charge and assignment of rights and interests to the trustee for the benefit of noteholders under English law.

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