ACRA Modelling Day - 2018

ACRA affirms АА(RU) to bonds (RU000A0ZYAE3, RU000A0ZYEE5, RU000A0ZYB73) issued by Bank GPB (JSC)

Credit rating rationale. The issues represent senior unsecured debt of Bank GPB (JSC) (hereinafter – Gazprombank or the Bank). Due to the absence of either structural or contractual subordination of the issues, ACRA regards them as equal to other existing and future unsecured and unsubordinated debt obligations of the Bank in terms of priority. According to the ACRA methodology, the credit rating of the issues is equivalent to that of Bank GPB (JSC), i.e. AA(RU).

The credit rating of Bank GPB (JSC) is based on its strong and stable business profile, adequate capital adequacy position, satisfactory liquidity and funding position, and satisfactory risk profile. The rating is additionally supported by Gazprombank’s critical systemic importance for the Russian financial market.

Key properties of the issues

Borrower/ Actual issuer for all issues is Bank GPB (JSC) (Issuer’s credit rating is АА(RU), outlook Positive)

1) ISIN/Identification number: RU000A0ZYAE3 / 4В021400354В

Type of security

Certified exchange-traded interest-bearing unregistered bond, BO-14 Series

Issue volume

RUB 10 bln

Maturity date

September 19, 2020

 

2) ISIN/Identification number: RU000A0ZYEE5 / 4B021700354B

Type of security

Certified exchange-traded interest-bearing unregistered bond,
BO-17 Series

Issue volume

RUB 10 bln

Maturity date

October 31, 2024

 

3) ISIN/Identification number: RU000A0ZYB73 / 4В022400354В

Type of security

Certified exchange-traded interest-bearing unregistered bond, BO-24 Series

Issue volume

RUB 5 bln

Maturity date

September 26, 2020

 

Regulatory disclosure

The credit rating has been assigned under the national scale for the Russian Federation and based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments Under the National Scale of the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency Within the Scope of Its Rating Activities.

The credit ratings assigned to BO-14 series (RU000A0ZYAE3), BO-17 series (RU000A0ZYEE5) and BO-24 series (RU000A0ZYB73) bonds issued by Bank GPB (JSC) were first published by ACRA on September 19, 2017, October 30, 2017 and September 25, 2017, respectively. The credit ratings are expected to be revised within one year following the rating action date (September 6, 2018).

The credit rating is based on the data provided by Bank GPB (JSC), information from publicly available sources, and ACRA’s own databases. The credit rating is solicited, and Bank GPB (JSC) participated in its assignment.

No material discrepancies between the provided information and the data officially disclosed by the issuer in its financial statements have been discovered.

ACRA provided additional services to Bank GPB (JSC). No conflicts of interest were discovered in the course of credit rating assignment.

Log in

Forgot password

Sign up

Reset password

Reset password

Termsofuse

Полное использование материалов сайта разрешается только с письменного согласия правообладателя, АКРА (АО). Частичное использование материалов сайта (не более 30% текста статьи) разрешается только при условии указания гиперссылки на непосредственный адрес материала на сайте www.acra-ratings.ru . Гиперссылка должна быть размещена в подзаголовке или в первом абзаце материала. Размер шрифта гиперссылки не должен быть меньше шрифта текста используемого материала.