Credit rating rationale. The issue represents senior unsecured debt of CREDIT BANK OF MOSCOW (hereinafter, CBM or the Bank). Due to the absence of either structural or contractual subordination of the issue, ACRA regards it as equal to other existing and future unsecured and unsubordinated debt obligations of the Bank in terms of priority. According to the ACRA methodology, the credit rating of the issue is equivalent to that of CBM, i.e. A(RU).
The Bank’s credit rating is based on its moderate systemic importance. CBM is characterized by adequate business profile, strong capital adequacy, weak risk profile, and satisfactory liquidity and funding assessment.
Key issue properties
|
Issuer |
CREDIT BANK OF MOSCOW |
|
Issuer’s credit rating |
A(RU), outlook Stable |
|
Actual issuer |
CREDIT BANK OF MOSCOW |
|
Type of security |
Exchange-traded interest-bearing certified bearer bonds, |
|
Issue volume |
RUB 7 bln |
|
ISIN |
RU000A1014H6 |
|
Placement date |
December 3, 2019 |
|
Maturity date |
November 30, 2021 |
Regulatory disclosure
The credit rating has been assigned under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments under the National Scale of the Russian Federation, and the Key Concepts Used by Analytical Credit Rating Agency within the Scope of Its Rating Activities.
A credit rating has been assigned to RU000A1014H6 bond of CREDIT BANK OF MOSCOW for the first time. The credit rating is expected to be revised within one year following the publication date of this press release.
The assigned credit rating is based on the data provided by CREDIT BANK OF MOSCOW, information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and CREDIT BANK OF MOSCOW participated in its assignment.
No material discrepancies between the provided data and the data officially disclosed by CREDIT BANK OF MOSCOW in its financial statements have been discovered.
ACRA provided additional services to CREDIT BANK OF MOSCOW. No conflicts of interest were discovered in the course of credit rating assignment.