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
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Product Type: Research Update
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