MOSCOW, May 4 (RIA Novosti) - Moody's Thursday assigned a Baa1 rating with a stable outlook to Russian Agricultural Bank's upcoming Eurobond issue.
The estimated volume of the first issue under the RSHB Capital S.A. program is about $500 million with loan participation notes due in 7-10 years, the international ratings agency said.
Moody's assigns Baa1 ratings to financial instruments with low current investment risks.
Russian Agricultural Bank is a specialized commercial bank mainly serving Russian agricultural companies and individual entrepreneurs. It also acts as a government agent in state and international support programs for the country's agriculture sector. The bank, which has equity capital of 11.3 billion rubles (about $414 million), is 100% owned by the state.
