Fitch Ratings assigns ALB Finance B.V.'s GBP250 m eurobond 'BB-' rating
13.02.07 12:11
/Fitch Ratings, February 12, 07/ - Fitch Ratings has today assigned ALB
Finance B.V.'s recent GBP250 million 9.75% issue of senior unsecured notes
due February 2011 a Long-term 'BB-' (BB minus) rating.
The notes are issued under Alliance Bank's ("Alliance") and ALB Finance
B.V.'s USD3.0 billion global medium-term note programme. The
programme's ratings for senior unsecured notes are Long-term 'BB-' (BB
minus) and Short-term 'B' (refer to Fitch's statement dated 30 March 2006 for
the programme's main terms and conditions). Alliance is rated at Issuer
Default 'BB-' (BB minus) with a Stable outlook, Short-term 'B', Individual 'D'
and Support '3'.
Alliance is controlled by Seimar Alliance Financial Corporation, which is in
turn owned by three brothers. The bank has been growing very rapidly and is
one of the five largest in Kazakhstan. Strategy is focused on retail lending
and lending to small- to medium-sized enterprises.
Contact:
Alexei Kechko, James Watson, Moscow, Tel: +7 495 956 9901
Media Relations:
Julian Dennison, London, Tel: +44 20 7862 4080
[2007-02-13]