RPT-Fitch Rates Gazprombank's USD750m Subordinated Notes Final 'BB-'
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Oct 3 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has assigned Russia-based Gazprombank's USD750m Series 13 issue of loan participation notes (LPNs) a final rating of 'BB-'.
Obligations under the issued LPNs are subordinated to the claims of Gazprombank's depositors and other senior creditors and will be included in the bank's Tier II capital, subject to the Russian central bank's permission. The notes carry a fixed coupon of 7.495% and have a maturity date on 28 December 2023.
For key rating drivers and rating sensitivities, see "Fitch Rates Gazprombank's Upcoming Subordinated Notes 'BB-(EXP)'", dated 11 September 2013, available at www.fitchratings.com.
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