bnews.kz - Moody's assigns investment rating to EDB's tenge bonds

The international rating agency Moody’s Investor Services assigned a rating of A3 to Eurasian Development Bank’s (EDB) first issue of tenge bonds and the bond programme as a whole, the press service of the bank reports.

The first issue (KZP01Y05E384) to the tune of up to 20 billion tenge is expected to be placed before the end of this year. The funds will be used to finance the Bank’s investment projects in Kazakhstan.

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.