Outlook Revised To Negative On Eight Kazakh Banks On Concerns Over Pressure On Asset Quality

Standard & Poors, December 2007

Abstract
PARIS (Standard & Poor's) Dec. 11, 2007--Standard & Poor's Ratings Services said today that it had revised its outlook to negative from stable on eight Kazakh banks: Kazkommertsbank (JSC) (KKB), Bank TuranAlem, Halyk Savings Bank of Kazakhstan, Alliance Bank JSC, Temirbank JSC, BTA Ipoteka Mortgage Co., JSC Nurbank, and JSC Eurasian Bank. At the same time, Standard & Poor's lowered its long-term counterparty credit rating on KKB to 'BB' from 'BB+' and its Kazakhstan national scale rating on Temirbank to 'kzBBB' from 'kzBBB+' and on Eurasian Bank to 'kzBB' from 'kzBBB-'. All other ratings were affirmed (see list below). The rating actions reflect Standard & Poor's concerns over the increasing pressure on asset quality and liquidity that Kazakh banks are...

Companies mentioned in this report are: Kazkommertsbank (JSC),Kazakhstan (Republic of),Halyk Savings Bank of Kazakhstan,BTA Bank J.S.C.,JSC Nurbank,BTA Ipoteka Mortgage Co.,Alliance Bank JSC,JSC Eurasian Bank,Temirbank JSC
Action: Affirmed
Action: Downgraded
Action: Outlook: Negative

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.

Kazkommertsbank (JSC),Kazakhstan (Republic of),Halyk Savings Bank of Kazakhstan,BTA Bank J.S.C.,JSC Nurbank,BTA Ipoteka Mortgage Co.,Alliance Bank JSC,JSC Eurasian Bank,Temirbank JSC

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