Research Update: Kazkommertsbank Outlook Revised To Negative On Likely Prolonged Period Of Weak Asset Quality; 'B+/B' Ratings Affirmed Jul 12
- Language: English
- Published: July 2012
On April 17, 2002, Standard & Poor's raised its long-term counterparty credit and certificate of deposit ratings on Kazakhstan-based Kazkommertsbank JSC (KKB) and assigned ratings to the proposed issue of notes by Kazkommerts International B.V., which are unconditionally and irrevocably guaranteed by KKB. The ratings action reflects the improved, but still high risk, economic environment in Kazakhstan and positive developments with the bank's funding and quality of assets and earnings. The upgrade is based on Kazakhstan's improved economic prospects, which has enabled KKB to attract primary funds, significantly strengthening its funding profile and its ability to grow its profitable lending business. The bank's staggering rate of growth is a risk factor if the economy slows down, however, as the bank...
Companies mentioned in this report are: Kazkommertsbank (JSC)
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