MOODY'S RATES ALLIANCE BANK'S SENIOR NOTES BA2; POSITIVE OUTLOOK
06.09.06 17:19
/IRBIS, Valeriy Khegay, September 6, 06/ - Moody's Investors Service has
assigned a Ba2 long-term foreign currency debt rating to the senior unsecured
debt to be issued by ALB Finance B.V., a Netherlands-based special purpose
vehicle wholly owned by Alliance Bank (Kazakhstan), under its US$1.5 billion
multiple seniority medium-term note programme, which has recently been amended
to provide for the distribution in the United States to qualified institutional
buyers as defined under the Securities Act ("Rule 144A"). The senior notes will
be unconditionally and irrevocably guaranteed by Alliance Bank. The issue is
expected to be in US dollars with a seven-year tenor. The outlook on the rating
is positive. Please refer to Moody's press release dated 31 March 2006
detailing the assignment of the ratings for the programme.
Alliance Bank is headquartered in Almaty, Kazakhstan, and reported
unaudited total assets of KZT520 billion (US$4.4 billion) and capital of KZT33
billion (US$282 million) under IFRS at 30 June 2006. Following four-and-a-
half years of rapid growth, Alliance Bank ranked fourth in Kazakhstan in
terms of both total assets and shareholders' equity as at end-June 2006 (in
accordance with figures reported under local accounting rules), with a 9.5%
share of the system's total assets and 6.6% of shareholders' equity.
London
Adel Satel
Managing Director
Financial Institutions Group
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Moscow
Andrey Naumenko
Vice President - Senior Analyst
Financial Institutions Group
Moody's Eastern Europe
Telephone: +7-495-771-7146
Facsimile: +7-495-937-8290
[2006-09-06]