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MOODY'S RATES RUSSIAN STANDARD FINANCE'S NOTES AT BA2
Info-Prod Research (Middle East), June, 2007
Moody's Investors Service has assigned a Ba2long-term foreign currency debt rating to the US$350 million seniorunsecured Loan Participation Notes ("LPNs") to be issued by RussianStandard Finance S.A., a special purpose vehicle ("SPV") set up inLuxembourg with the sole purpose of funding unsecured and unsubordinatedloans to the closed joint stock company, Russian Standard Bank ("RSB").The tenor of the notes will be 3 years.
The notes are being issued underRussian Standard Finance S.A.'s medium-term note programme, which isextended to US$2.5 billion from US$1.5 billion. The SPV will account to the Noteholders only for amounts equivalent to principal and interest (if any) received from RSB under the LoanAgreement. Under the covenants of the issue, RSB shall not to enter into...
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