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Article: RUSSIA: MOODY'S ASSIGNS BA2 TO AK BARS LUXEMBOURG S.A. NOTES; STABLE OUTLOOK.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- June 2, 2008
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Moody's Investors Service has assigned a rating of Ba2 with stable outlook to the Loan Participation Notes to be issued on a limited recourse basis by AK BARS Luxembourg S.A. -- a Luxembourg-based special purpose entity -- for the sole purpose of financing a loan to AK BARS Bank ("ABB"), a bank established under the laws of the Russian Federation. The notes will be denominated in US dollars and the loan represents a senior unsecured claim on the bank. The notes will be issued under the US$1.5 billion programme and will have a tenor of up to five years. The amount and interest rate of the issue will be determined by market conditions. The Ba2 rating is based on ABB's ...