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, according to the ACRA methodology, the credit rating of the issue is equivalent to the credit rating of Bank GPB (JSC), i.e. AA(RU).
Key issue properties
Issuer | Bank GPB (JSC) |
Issuer’s credit rating | АА(RU) (Stable) |
Actual issuer | Bank GPB (JSC) |
Type of security | Certified exchange-traded interest-bearing unregistered bond, BO-12 Series |
Issue volume | RUB 10 bln |
ISIN RegS | RU000A0JX0P9 /4B021200354B |
Final placement date | 02.12.2016 |
Maturity date | 02.12.2019 |
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.
A credit rating has been assigned to the BO-12 Series Bond 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 5, 2016).
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 the issuer in its financial statements have been discovered.
There have been no substantial changes in the financial standing of the issuer since the time of the last rating action thereof.
ACRA provided no additional services to Bank GPB (JSC). No conflicts of interest were discovered in the course of credit rating assignment.
