Fitch Rates Bank of Moscow's RUB10bn Senior Bond Final 'AA+(rus)'
10.10.2008 - Cbonds
Fitch Rates Bank of Moscow's RUB10bn Senior Bond Final 'AA+(rus)'
Fitch Ratings-London/Moscow-10 October 2008: Fitch Ratings has today assigned Bank of Moscow’s (BOM) RUB10bn senior bond due July 2011 a Final National Long-term 'AA+(rus)' rating. BOM is rated Long-term Issuer Default (IDR) 'BBB' with a Stable Outlook, Short-term IDR 'F3', Support '2', Individual 'D' and National Long-term 'AA+(rus)' with a Stable Outlook.
Further details on the structure of the issue can be found in Fitch's announcement dated 30 July 2008 on www.fitchresearch.com.
BOM was established in 1995 and is now one of Russia's five largest banks in terms of assets. The City of Moscow currently owns 44% of BOM directly and controls 15% through Capital Insurance Group, in which the city and BOM have stakes of 25% plus one share and 25%, respectively.
Coupon rate for coupon 1 is set at auction, coupon rates for coupons 2-6: according to issue documents
Coupon frequency:
2 time(s) per year
Settlement date:
Aug 01 2008
Maturity date:
Jul 29 2011
Issue Managers:
Bank of Moscow
Trading floor:
MICEX
Issuer profile: The Bank of Moscow is one of the biggest Russian banks. It has 42 branches in Moscow and Moscow region and 43 branches in major cities of Russia.
The Bank has over 83 thousand clients - legal parties and over 6 mln individuals (along with its branches). Among the banks clients are state-financed organizations, extra-budgetary funds, tax inspections, joint-stock companies, foreign companies and their representatives, and individuals.
Main stock-holders are as follows: Goverment of Moscow (62,17% of authorized capital).
