Kazkommertsbank Ratings Raised to 'B+'; Outlook Stable Apr 02
- ID: 1786697
- April 2002
- Standard & Poors
LONDON (Standard & Poor's) April 17, 2002--Standard & Poor's said today it raised its long-term counterparty credit and certificate of deposit ratings on Kazakhstan-based Kazkommertsbank (JSC) (KKB) to single-'B'-plus from single-'B'. The outlook is stable. The rating actions reflect the improved, but still high-risk, economic environment in the Republic of Kazakhstan (local currency, BB+/Stable/B; foreign currency, BB/Stable/B), and positive developments in the bank's funding and quality of assets and earnings. At the same time, Standard & Poor's affirmed its single-'C' short-term counterparty credit and certificate of deposit ratings on the bank. "The upgrade is based on Kazakhstan's improved economic prospects, which have enabled KKB to attract primary funds, significantly strengthening its funding profile and its ability to grow its profitable...
Companies mentioned in this report are:
- Kazkommertsbank JSC
- Kazakhstan (Republic of)
Action: Various Rating Actions
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Research type: News
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