Business Services Industry
RUSSIA: MOODY'S CHANGES PROMSVYASBANK'S OUTLOOK TO POSITIVE.
IPR Strategic Business Information Database, December, 2006
Moody's Investors Service has changed from stable to positive the outlook on Promsvyasbank's (PSB) Ba3 long-term foreign currency deposit and debt ratings. The outlook on the bank's D- financial strength rating remains unchanged. At the same time the outlook for the Ba3 long-term foreign currency debt rating assigned to US$125 million 8.75% senior unsecured loan participation notes and the B1 long-term foreign currency debt rating assigned to the US$200 million 9.625% subordinated loan participation notes issued by PSB Finance S.A.
have also been changed to positive. Moody's change of outlook is prompted by a recent announcement of the successful acquisition of a 15% stake of PSB by Commerzbank AG (CB) (rated A2/P-1/C ), which is likely to be followed by...
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