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Kazkommerts DPR Co. (Kazakhstan) Notes Series 2007A, B, And C Assigned Ratings
Standard & Poors, April 2007
NEW YORK (Standard & Poor's) April 12, 2007--Standard & Poor's Ratings Services today assigned its ratings to Kazkommertsbank JSC's (KKB) Kazkommerts DPR Co. $500 million floating-rate notes series 2007-A, 2007-B, and 2007-C due 2017 (see list). The transaction is a securitization through a true sale of KKB's current and future diversified payment rights (DPRs). DPRs take the form of U.S. dollar-denominated, Society for Worldwide Interbank Financial Telecommunications (SWIFT) MT100 series payment order messages. The payment order messages are a product of the international financial operations of KKB, the largest bank in Kazakhstan. The three new series of notes have a 10-year maturity with an interest-only period until June 2010. The 'AAA' ratings on the series 2007A, 2007B, and 2007C notes...
Companies mentioned in this report are: Kazkommertsbank (JSC)
Action: New Rating
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.