Moody's присвоило рейтинг "Ba1" программе нот Astana Finance B.V. (Нидерланды) на $2 млрд

/REUTERS, Москва, 29.05.07, заголовок KASE/ - Moody's присвоило рейтинг "Вa1" новой программе среднесрочных нот (GMTN) компании Астана-финанс (Казахстан) на $2 миллиарда и первому траншу нот в рамках этой программы. Ниже приводится оригинальный текст сообщения агентства Moody's. MOODY'S ASSIGNS RATINGS TO ASTANA FINANCE'S (KAZAKHSTAN) GMTN PROGRAMME AND FIRST DRAWDOWN Moscow, May 29, 2007 - Moody's Investors Service has assigned a Ba1 long-term foreign currency debt rating to the senior unsecured obligations to be issued under the new $2,000 million GMTN programme of Astana Finance B.V. (Netherlands), a wholly-owned subsidiary of Kazakhstan's JSC Astana Finance (Ba1 long-term foreign currency issuer rating with stable outlook). At the same time, Moody's has assigned Ba1 long-term foreign currency debt obligations to the first drawdown under this programme. The issue is planned to be jointly, unconditionally and irrevocably guaranteed by Kazakhstan's JSC Astana Finance and JSC Leasing Company Astana- Finance. The outlook for the ratings is stable. The ratings are subject to a review of the final documentation for the transaction. Moody's notes that the programme allows the issuing of subordinated obligations, whose ratings will be assessed on an individual basis, and which may not correspond to the rating currently assigned. JSC Astana Finance's obligations under the guarantee agreement will rank at all times at least pari-passu with the claims of all other unsecured and unsubordinated creditors of the company save for those claims that are preferred by any relevant law. The terms and conditions of the notes contain a cross-acceleration clause for both the issuer and JSC Astana Finance. Moody's also notes that according to the terms of the programme both the issuer (Astana Finance B.V.) and the guarantors (JSC Astana Finance and JSC Leasing Company Astana-Finance) must comply with certain covenants related to negative pledge, limitation on payment of dividends, mergers and consolidation, sale of assets, and related-party transactions. In addition, the terms stipulate that JSC Astana Finance (i) should not permit consolidated tangible net worth to be less then US$15 million; (ii) should not permit consolidated liquid assets as a percentage of consolidated short-term liabilities to be less than 30%; and (iii) is obliged to maintain its financial assets at a proportion of no less than 70% of total assets. Moody's notes that in the event that these financial indicators approach the minimum triggers defined in such covenants, JSC Astana Finance's ratings would become unstable and significant downward rating pressure might ensue. According to Moody's, the notes might be eligible for early redemption by the noteholders in the event of (i) a merger event resulting in a ratings downgrade; (ii) an asset sale resulting in a ratings downgrade; (iii) if the City of Astana or Kazyna JSC Fund for Sustainable Growth ceases to own at least 25% of the issued voting share capital of JCS Astana Finance. JSC Astana Finance, incorporated in the Kazakh capital, Astana, reported total assets of US$1,033 million and total equity of US$69 million under IFRS as of 31 December 2006. London Adel Satel Managing Director Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Moscow Vladlen Kuznetsov Asst Vice President - Analyst Financial Institutions Group Moody's Eastern Europe Telephone: +7 495 641-1881 Facsimile: +7 495 641-1897 [2007-05-30]