Research Update: Kazkommertsbank (JSC) Ratings Raised To 'BB' On Leading Commercial Position; Outlook Stable Jul 05
- ID: 1786540
- July 2005
- Standard & Poors
On July 22, 2005, Standard & Poor's Ratings Services raised its counterparty credit and certificate of deposit ratings on Kazakhstan-based Kazkommertsbank (JSC) (KKB) to 'BB' from 'BB-. The outlook is stable. At the same time, the 'B' short-term counterparty credit and certificate of deposit ratings on the bank were affirmed. The upgrade reflects the bank's sustained leading commercial position in Kazakhstan (foreign currency, BBB-/Stable/A-3; local currency, BBB/Stable/A-3), increased diversification into small and midsize enterprise and retail sectors, and strengthened risk management. A robust economic growth also supports these positive developments. The ratings are constrained, however, by the rapid loan growth and significant concentrations in lending and funding in a high-risk economic and banking environment. Furthermore, fast loan growth has pressurized...
Companies mentioned in this report are:
- Kazkommertsbank JSC
- Kazkommerts International B.V.
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >