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Acron Gets USD 90 mn Framework Loan Facility from Sviaz-Bank

Sviaz-Bank has opened a three-year framework loan facility for Acron with a USD 90 mn limit. The loan will be used to replenish Acron’s working capital.

Acron is a key strategic partner of the bank. Sviaz-Bank has issued more than RUB 5.7 bn (USD 185 mn) year-to-date to finance Acron’s operations. The Bank intends to further expand its cooperation with Acron.

Sviaz-Bank was established in 1991, is licensed by the Bank of Russia (License 1470), and participates in the mandatory deposit insurance system. The Bank’s regional network comprises 49 branches.

Sviaz-Bank’s main shareholder is the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank).

Moody’s Investors Service Rating Agency assigned Sviaz-Bank E+ financial stability rating (FSR) and B1 long-term rating of for deposits in national and foreign currencies. Moody's Interfax Rating Agency assigned the bank national scale deposits rating. The rating outlook is “positive.”

Fitch Ratings assigned Sviaz-Bank a long-term issuer default rating (IDR) in national and foreign currencies of BB, short-term IDR of B, individual rating of D/E, support rating of 3 and long-term national rating of AA-(rus). The outlook for the long-term IDR and the long-term national rating is stable.

The Central Bank of the Russian Federation lists Sviaz-Bank as one of 30 top Russian banks. Sviaz-Bank’s Series 01 bonds (official issue registration number 40101470B, dated April 2, 2007) were included on the Bank of Russia Lombard List.