Training on Forecasting September 17–18

ACRA assigns АА(RU) to 001Р-03Р (RU000A0ZZXM5) bond issued by Bank GPB (JSC)

Credit rating rationale. The issue represents senior unsecured debt of Bank GPB (JSC). Due to the absence of either structural or contractual subordination of the issue, ACRA regards it 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 issue 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 position, and satisfactory risk profile assessment. The rating is additionally supported by critical systemic importance of Bank GPB (JSC) for the Russian financial market.

Key issue properties

Issuer

Bank GPB (JSC)

Issuer’s credit rating

АА(RU), outlook Positive

Actual issuer

Bank GPB (JSC)

Type of security

Exchange-regulated bond
series 001
Р-03Р

Issue volume

RUB 7 bln

ISIN

RU000A0ZZXM5

Final placement date

December 13, 2018

Maturity date

June 13, 2022

Regulatory disclosure

The credit rating has been assigned under the national scale for the Russian Federation 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.

A credit rating has been assigned to the 001Р-03Р series bond (RU000A0ZZXM5) of Bank GPB (JSC) for the first time. The credit rating is expected to be revised within one year following the rating action date (December 12, 2018).

The assigned 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 Bank GPB (JSC) in its financial statements have been discovered.

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

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