IBA Guarantees Provide Good Rating to Its Entity in Moscow

The rating of the bonds of Bank IBA-Moscow LLC is set at the level of BB.

As stated by Fitch Ratings, it has become possible due to the availability of guarantees of its founder, OJSC International Bank of Azerbaijan.

The planned issue of securities in the amount of 3 billion rubles for corporate purposes is designed for 3 years with a commitment to repurchase in a year. The yield on the bonds in the first year is set at 11.5%.

The bank IBA-Moscow with a capital of 2,110,427,000 rubles ($ 31.71 million at the current exchange rate) was founded in 2002 and is a subsidiary of OJSC International Bank of Azerbaijan. Its has branches in Moscow, St. Petersburg and Yekaterinburg. --17D-

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