ACRA assigned a credit rating to the issue of GPB bonds (RU000A105GW4)

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AK&M 24 November 2022 17:58

Analytical Credit Rating Agency on November 24, 2022 assigned the issue of bonds of GPB Bank (JSC) (RU000A105GW4)  credit rating AA+(RU). This is stated in the agency's message.      

The issue (volume - 20 billion rubles) is the senior unsecured debt of GPB Bank (JSC). Due to the lack of structural and contractual subordination of the issue, ACRA evaluates these bonds as equal in order of execution to other existing and future unsecured and unsubordinated obligations of the bank. According to the ACRA methodology, the issue's credit rating is equivalent to the bank's credit rating — AA+(RU).

Gazprombank's credit rating is based on a strong and stable business profile, a satisfactory assessment of capital adequacy, as well as a satisfactory position on liquidity and funding with an adequate risk profile. Additional support for the rating is provided by the possibility of Gazprombank receiving extraordinary support from the state, which has delegated the bank to perform special functions and is interested in its stable creditworthiness.