Moody's присвоило рейтинг "В1" планируемым бумагам банка Альянс

/REUTERS, 31.03.06/ - Международное рейтинговое агентство Moody's присвоило долгосрочный рейтинг "B1" запланированному выпуску "вечных" ценных бумаг казахстанского банка Альянс, говорится в сообщении агентства. Прогноз изменения рейтинга - позитивный. Объем выпуска еще не определен, однако ожидается, что он составит $150 миллионов. Ниже приводится оригинальный текст сообщения Moody's. MOODY'S ASSIGNS B1 LONG-TERM DEBT RATING TO THE UPCOMING ISSUE OF ALB FINANCE B.V. PERPETUAL CAPITAL SECURITIES; POSITIVE OUTLOOK London, 30 March 2006 - Moody's Investors Service has assigned a long-term rating of B1 to Perpetual Capital Securities ("the Securities") to be issued by ALB Finance B.V. ("the Issuer"), a special purpose vehicle wholly-owned by Alliance Bank, Kazakhstan ("the Bank") and consolidated within its group structure. Alliance Bank has a long-term deposit and senior debt rating of Ba2, Financial Strength Rating of E+ and "Not Prime" short-term rating; the outlook is positive. The Securities have the benefit of a subordinated support agreement from the bank, which allows them to qualify as a junior subordinated debt as per Moody's classification. The amount of the issue has yet to be determined, but is likely to be US$150 million, of which about US$30 million is expected to immediately qualify as Tier 1 capital, with the remainder boosting the bank's Tier 2 capital (with the prospect of a future re-classification alongside the growth in shareholders' equity). The rating is subject to Moody's review of the final documentation on the issue. The outlook for the rating is positive. The Securities will have no fixed final redemption date, but will be callable by the Issuer commencing from the tenth anniversary of the closing date of the issue (subject to regulatory approval); they will also become redeemable at the Issuer's option in the period from the fifth to the tenth anniversary of the closing date in case of changes in taxation or disqualification by Kazakhstan's regulator as a part of the Bank's Tier 1 capital. Moody's notes that the rating is based on (i) Alliance Bank's fundamental credit quality as reflected in its deposit and financial strength ratings, (ii) the extent of the instrument's subordination against various classes of debt and equity, as well as (iii) the predictability of ongoing payments. The level of the rating reflects Alliance Bank's rapidly growing domestic franchise and increasing importance to the national banking system. The rating also takes into account the relative ranking of the Securities, which will stand senior to common equity and preferred stock holders, on a par with unsecured, perpetual, subordinated obligations, but behind most of the senior unsecured and non-perpetual subordinated obligations, in case of liquidation. Moody's also notes that the rating factors in Alliance Bank's mandatory obligation to suspend non-cumulative interest payments on the Securities, if it were in breach of Kazakhstan's prudential capital adequacy requirements, or if the payment results in such a breach. However, in all other cases (unless legally prohibited by the Kazakh laws and regulations) Alliance Bank must make distributions on the Securities, or face the risk of a legal action which could be taken by the investors (through the trustee) against the bank within the framework of the subordinated support agreement between the Bank and the Issuer. Headquartered in Almaty, Kazakhstan, Alliance Bank reported total consolidated total assets of KZT333 billion (US$ 2.5 billion) and shareholders' equity of KZT28 billion (US$210 million) under IFRS as at 31 December 2005. Following four years of rapid growth, Alliance Bank ranked fifth in Kazakhstan in terms of total assets and fourth in terms of shareholders' equity as at end-December 2005 (in accordance with figures reported under local accounting rules), with a 7.5% share of the system's total assets and 6.6% of shareholders' equity. Assignments: Issuer: ALB Finance B.V. Junior Subordinated Regular Bond/Debenture, Assigned B1 London Adel Satel Managing Director Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Dmitry Polyakov Asst Vice President - Analyst Financial Institutions Group [2006-03-31]