Moody’s assigns B1 rating to Alfa Bank Eurobond issue. The outlook is stable
21 Nov 2002
Moody’s sais that the rating has been places at the same level as the deposit rating, a level that reflects important role of Alfa bank in Russia’s banking system. According to Moody’s, a strong, highly experienced management team is in charge of the bank’s well-planed franchise-strengthening expansion strategy, keeping risks under control. Alfa’s wide range of commercial and investment banking products help to mitigate the volatility of the Russia operating environment, which is welcomed by Moody’s. On November 6 Standard & Poor’s has assigned its single "B"-minus rating to Alfa Bank Eurobond issue. “The rating of Alfa Bank reflects the bank’s good business franchise and improved financial profile and product diversification in the context of better prospects for macroeconomic stability in Russia,” said S&P credit analyst Ekaterina Trofimova. Alfa Bank is one of the five largest Russian banks in term of breadth of operations and reported assets ($3.1 billion on June 30, 2002), S&P reported.
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