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UKRAINE: MOODY'S RATES AT BA2 UKREXIMBANK'S SENIOR UNSECURED NOTES.
IPR Strategic Business Information Database, August, 2006
Moody's Investors Service has assigned a rating of Ba2 to Loan Participation Notes to be issued on a limited recourse basis by Credit Suisse International for the sole purpose of funding a loan to Ukreximbank. The outlook for the rating is stable. The holders of the notes will be relying for repayment solely and exclusively on the ability of Ukreximbank to make payments under the loan agreement.
Moody's Ba2 rating is based on the fundamental credit quality of Ukreximbank, a wholly state-owned bank which, as well as acting as government agent, is engaged in commercial banking activities and ranked fifth-largest bank in Ukraine in terms of total assets as at 30 June 2006. The rating also reflects the probability of a sovereign default implied by Ukraine's B1...
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