A debut issue of Eurobonds by the International Bank of Azerbaijan is expected to be at least at an amount of $100 mln., Asgar Mammadov, Vice-President of the Bank, told Trend.
The terms of issuing Eurobonds depend on the rating of the Bank. We are about to receive a rating from another international rating agency, said Mr. Mammadov.
At present, IBA is working with Moody`s Investor, and in December, 2006, we expect to receive the second rating
We would like to receive a rating from Fitch Ratings at least at the level of the country one. However, due to the conservatism of the above-mentioned Organization, it pledged to refresh its rating for the Azerbaijani Bank as soon as the sovereign rating is announced. But that will happen only the next year, said the Vice-President of IBA.
IBA is expecting to receive a rating from Moody`s Investor either at the same level or even higher, but not lower than that which was given to IBA by Fitch at all.
