Credit rating rationale. The issue represents senior unsecured debt of “Sovcombank Leasing”, LLC (hereinafter, Sovcombank Leasing or the Company). 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 Company in terms of priority. According to ACRA’s methodology, the credit rating of the issue is equivalent to that of Sovcombank Leasing, i.e. AA-(RU).
Sovcombank’s credit rating is based on the adequate business profile assessment, strong risk profile assessment, moderately strong capital adequacy assessment, satisfactory funding and liquidity position, and support from the parent company.
KEY ISSUE PROPERTIES
|
Borrower |
“Sovcombank Leasing”, LLC |
|
Issuer’s credit rating |
AA-(RU), outlook Stable |
|
Actual issuer |
“Sovcombank Leasing”, LLC |
|
Type of security |
Exchange-traded interest-bearing |
|
Type of debt |
Senior unsecured |
|
Issue volume |
RUB 10.75 bln |
|
ISIN |
RU000A10B3W0 |
|
Registration number |
4B02-09-00303-R-001P |
|
Placement start date |
March 18, 2025 |
|
Maturity date |
April 7, 2028 |
|
Option date |
September 20, 2025 |
Sources: ACRA, issuer’s data
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 Financial Instruments under the National Scale for 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 series BO-P09 (RU000A10B3W0) bond issue of “Sovcombank Leasing”, LLC for the first time. The credit rating is expected to be revised within one year following the publication date of this press release.
The credit rating was assigned based on data provided by “Sovcombank Leasing”, LLC, information from publicly available sources, and ACRA’s own databases. The credit rating is solicited and “Sovcombank Leasing”, LLC participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided no additional services to “Sovcombank Leasing”, LLC. No conflicts of interest were discovered in the course of credit rating assignment.
