Research Update: Kazkommertsbank Ratings Raised To 'B+/B' On Bank Criteria Change, Outlook Stable Dec 11
- Language: English
- Published: December 2011
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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