Fitch assigns GLOBEXBANK ruble bonds 'BB' rating
LONDON/MOSCOW. Aug 5 (Interfax) - International rating agency Fitch Ratings has assigned GLOBEXBANK's 3-billion-ruble series BO-04 and 2-billion-ruble series BO-06 6.95% three-year senior unsecured bonds final long-term local currency ratings of 'BB' and national long-term ratings of 'AA-(rus),' a Fitch press release says.
The bank's ratings are long-term issuer default rating (IDR) 'BB' with an outlook of 'Stable," short-term IDR 'B', viability rating 'b', individual rating 'D/E', national long-term rating 'AA-(rus)' with an outlook of 'Stable' and support rating '3', the release says.
GLOBEXBANK is 99.2% owned by Vnesheconombank (VEB, 'BBB'/ Stable), and on a standalone basis, ranked as the 33rd-largest bank in Russia at end-Q1 2011. In February 2011, with the support of VEB, the bank acquired National Trade Bank, which operates in the Samara region, it says.