Alfa Bank reschedules MTN program

Alfa Bank has rescheduled its MTN program (the Euro Medium Term Notes program) for this October, Senior Deputy CEO of the bank Andrey Kosogov told journalists today. According to him, the proposed amount of issue ($400m) has not been changed. The issue was initially scheduled for this July. According to Kosogov, western partners of the bank made no announcements on the current situation.

He considers the decision to place long-term foreign currency ratings of 18 banks and the financial strength ratings of four banks in Russia on review for possible downgrade by the Moody's rating agency absolutely correct. However, he believes that the rating agency will either affirm ratings of the majority of these banks or upgrade them.