February 27, 2008 | Cbonds
|Fitch Ratings-London/Moscow-26 February 2008: Fitch Ratings has today assigned Russian Agricultural Bank’s (RAB) RUB5bn senior bond due February 2018 a National Long-term 'AAA(rus)' rating. RAB is rated Long-term Issuer Default (IDR) 'BBB+' with Stable Outlook, Short-term IDR 'F2', Individual 'D', Support '2', Support Rating Floor ‘BBB+’ and National Long-term 'AAA(rus)' with Stable Outlook. |
The bank's obligations under the issue will rank at least equally with the claims of other senior unsecured creditors of RAB, except those preferred by relevant legislation. Under Russian law, the claims of retail depositors rank above those of other senior unsecured creditors. At end-2007, retail deposits accounted for 5% of RAB's total liabilities, according to the bank's unaudited national accounts.
RAB was founded in 2000 and is 100%-owned by Russia's Federal Agency on Federal Property Management. RAB implements state policies in the agriculture and related sectors, providing credit, settlement and other financial services to these sectors. At end-October 2007, it was one of the six largest banks by total assets in Russia and the second-largest bank in Russia by regional branch network.
|Status||Country of risk||Maturity (option)||Amount||Issue ratings (M/S&P/F)|
Company: Russian Agricultural Bank
|Full company name||Joint stock company Russian Agricultural Bank|
|Country of risk||Russia|
|Country of registration||Russia|