MOSCOW, February 22 (RIA Novosti) - International rating agency Fitch said Wednesday it had assigned a BB- final long-term rating to the Eurobond program of a leading Russian commercial bank.
According to the agency, the International Funding program of MDM Bank is worth $2 billion.
Fitch also assigned a BB- final long-term rating to the bank's first Eurobond issue worth $250 million. The Eurobonds carry an interest rate of 7.5% and mature in December 2007.
MDM Bank will use the proceeds from the issue of securities to restructure its loan portfolio.
MDM Bank is on a list of the country's top thirty banks in terms of their assets published by the Central Bank.
