Fitch Assigns Alliance Bank's Upcoming Eurobond Expected 'BB-' Rating
05.09.06 17:27
/REUTERS, August 31, 06/ - Fitch Ratings has today assigned ALB Finance B.V.'s
("ALB") upcoming USD issue an expected Long-term 'BB-' (BB minus) rating.
Proceeds from the notes will be deposited with Alliance Bank ("Alliance"),
rated Issuer Default 'BB-'(BB minus)/Stable, Short-term 'B', Individual 'D',
and Support '3'.
The final rating is contingent upon receipt of final documentation conforming
materially to information already received.
The notes are issued under the bank's USD1.5 billion global medium-term note
programme (rated Long-term 'BB-' (BB minus)/Short-term 'B' - refer to Fitch's
statement dated 30 March 2006 for the programme's main terms and conditions).
Alliance will unconditionally and irrevocably guarantee the timely and full
repayment of notes in the trust deed between Alliance, ALB and the trustee,
J.P. Morgan Corporate Trustee Services Limited. ALB is a Netherlands-domiciled
subsidiary of Alliance.
Alliance was founded in 1993 in Pavlodar and in 1999 merged with another
mid-sized regional bank. New shareholders led by Seimar Holding Company
acquired Alliance in 2001, and since then it has grown quickly to become
one of the larger banks in Kazakhstan, ranked fourth by assets at end-H106.
Contact
Alexei Kechko, James Watson,
Moscow, Tel: +7 495 956 9901.
Media Relations:
Alla Izmailova,
Moscow, Tel: +7 495 956 9903;
Jon Laycock,
London,
Tel: +44 20 7417 4327.
[2006-09-05]