Moody's присвоило рейтинг нотам АО "Банк ЦентрКредит" (Казахстан)

/REUTERS, заголовок KASE, 08.09.06/ - Международное рейтинговое агентство Moody's присвоило рейтинг "Ba1" пятилетним еврооблигациям, которые, как ожидается, будут выпущены дочерней компанией казахского банка ЦентрКредит сроком на пять лет и объемом $200 миллионов. Эмитентом выступает CenterCredit International B.V. (Нидерланды), принадлежащая ЦентрКредиту. Прогноз рейтинга приоритетных необеспеченных нот - стабильный, говорится в сообщении Moody's. Ниже приводится оригинальный текст сообщения Moody's Investor Service. MOODY'S ASSIGNS BA1 RATING TO CENTERCREDIT INTERNATIONAL B.V.'S SENIOR NOTES Moscow, September 07, 2006 - Moody's Investors Service has assigned a Ba1 long-term local currency rating to the senior unsecured notes expected to be issued by CenterCredit International B.V. (Netherlands), a direct wholly-owned subsidiary of Kazakhstan's CenterCredit Bank (BCC, rated Ba1/NP/D- with a stable outlook). The issue is planned to be unconditionally and irrevocably guaranteed by BCC. The notes will be denominated in Kazakh Tenge (KZT). The amount of the issue is expected to be equivalent to US$200 million, with a five- year tenor. The outlook on the rating is stable. The rating is subject to reviewing the final documentation on the transaction. The Ba1 rating incorporates potential support from the Kazakh authorities in the event of need, in reflection of BCC's importance to the national banking system as the country's sixth-largest bank in terms of total assets and fourth-largest in terms of retail customer deposits as of end-1H 2006, with market shares of 7% and 11%, respectively. However, Moody's cautions that any outside support for BCC from the authorities in case of distress might be of a limited nature and its volume and timeliness uncertain. Under the terms of the bond issue, all principal and interest payments to the noteholders will be made in US dollars at the prevailing exchange rate at the time such payments are due; this will be provided for by means of a foreign exchange conversion agreement between BCC and Halyk Bank (rated Ba1/NP/D). Only in the event that the Kazakh currency becomes inconvertible, will noteholders receive payments in KZT, which may require opening an account with a local bank. This means there are additional foreign exchange and transfer risks attached to the notes which will be carried by potential investors, and which are not captured by the Ba1 local currency rating of the notes. In addition, BCC must comply with certain covenants, such as negative pledge, limitation on payment of dividends and maintenance of a minimum consolidated BIS Capital Adequacy Ratio of 10%. The noteholders will also have the right to redeem the notes before maturity if BCC should undertake a merger or an asset sale which results in a rating downgrade. Moody's notes that while the likelihood of such an event is currently relatively low, it could have negative implications for BCC's liquidity position, which in turn could further pressurise the bank's ratings. BCC is headquartered in Almaty, Kazakhstan, and reported total consolidated assets of KZT330 billion (US$2.5 billion) under IFRS as at 31 December 2005, representing a rapid 122% year-on-year growth. 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 [2006-09-08]