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MOODY'S ASSIGNS BA2 RATING TO BG FINANCE B.V. NOTES
Info-Prod Research (Middle East), January, 2007
Moody's Investors Service has assigned arating of Ba2 to the Loan Participation Notes ("Notes") to be issued on alimited recourse basis by a Dutch-based special purpose vehicle (SPV) forthe sole purpose of providing a senior unsecured loan to Bank of Georgia(BoG). The issuer will be accountable to the noteholders only for theamounts actually received from the bank in accordance with the loanagreement.
The amount and the tenor of the Notes have yet to bedetermined. The outlook for the rating is stable. Moody's explains that the Ba2 rating assigned to the notes is based onthe fundamental credit strength of BoG, one of the two largest banks inthe Georgian banking system, as captured by its Baa3 (stable) globallocal currency rating, and is higher than its B3 rating for...
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