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Article: MOODY'S RATES BANCO GANADERO'S DEBT ISSUANCE
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- December 30, 2008
CopyrightCopyright 2008 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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Moody's Latin America assigned anAa3.bo National Scale debt
rating to Banco Ganadero's subordinated debtprogram amounting to US$
10 million. The Aa3.bo Bolivia's national scale debt rating was also
assigned to the first expected issuance of the program, worth US$ 5
million. At the same time, Moody's Investors Service assigned a B2
globalforeign-currency debt rating to both the program and its first
issuance. The outlook on all ratings is stable. Moody's noted that
subordination was taken into consideration in the assignment of the
debt rating. Subordinated debt is usually rated onenotch below the
global local currency senior rating. However since ...