Moody's assigned its rating to the Bank's LPN
Moody’s Investors Services assigned its long-term foreign currency credit ratings “Ba3” and “B1” to the US$ 1b loan participation notes (LPN) to be issued by BSPB Finance P.L.C., incorporated specially under the Irish laws, on the basis of limited recourse, exclusively to finance unsecured loans of the first grade and subordinated loans for Bank “Saint Petersburg”. The outlook of the ratings is stable. The Bank will use the loans to finance its crediting activities and for the general banking purposes.
Moody’s assigned its long-term foreign currency debt ratings “Ba3” and “B1” to the future tranches of LPN, which are to be issued to finance the Bank’s unsecured loan of the first grade and subordinated loan respectively. The notes will be nominated in USD, and their amount, term and price will be determined by the market conditions. The outlook for the ratings is stable.