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S&P: Russian B.I.N.Bank Ratings Unaffected By Announced Likely Change Of Owner

February 22, 2008 | Cbonds

MOSCOW (Standard & Poor's) Feb. 22, 2008--Standard & Poor's Ratings Services
said today that its 'B-/C' ratings and stable outlook on Russian B.I.N.BANK
were unaffected by the likely change of shareholder. Vadim Moshkovich, the
head of unrated RUSAGRO, should acquire a 99% stake in the bank from the
previous owner. We expect the deal to close in April 2008. Until said closure,
B.I.N.BANK's shareholder structure remains unchanged (please refer to our
report dated May 31, 2007 for details). The current ratings on B.I.N.BANK
reflect its stand-alone position without additional uplift for expected
shareholder support. We will closely review the new owner's strategic aims for
the bank's development, as well as his commitment and capacity to provide
financial support to the bank in case of a need.

Company: BINBank (doesn't exist)

Full company nameB&N Bank (Public Joint-Stock Company)
Country of riskRussia
Country of registrationRussia
IndustryBanks

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