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11 Kazakh Future Flow Transaction Ratings Lowered; Four Remain On CreditWatch Negative
Standard & Poors, April 2009
Abstract
NEW YORK (Standard & Poor's) April 24, 2009--Standard & Poor's Ratings Services today lowered its stand-alone and/or underlying ratings on four financial future flow transactions issued by BTA Bank J.S.C.'s BTA DPR Finance Co. (JSC Bank TuranAlem) (BTA) and seven financial future flow transactions issued by Kazkommertsbank (JSC)'s Kazkommerts DPR Co. (KKB). The 11 transactions are backed by Kazakhstan's diversified payment rights (DPRs). At the same time, Standard & Poor's removed its ratings on the seven KKB transactions from CreditWatch with negative implications, where they were placed March 19, 2009. The ratings on the BTA transactions remain on CreditWatch negative, where they were placed Feb. 5, 2009 (see list). These rating actions are based on our recent review of both...
Companies mentioned in this report are: Kazkommertsbank (JSC),BTA Bank J.S.C.
Action: Downgraded
Action: On CreditWatch:Negative
Action: Removed From CreditWatch
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.
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