Following a review of Kazakhstan-based Kazkommertsbank (KKB) under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have raised our long-term issuer credit rating on the bank to 'B+' from 'B'. At the same time, we raised our short-term rating on KKB to 'B' from 'C'. The outlook is stable. Our ratings on KKB reflect our 'bb-' anchor for a commercial bank operating only in Kazakhstan, its moderate business position, adequate capital and earnings, moderate risk position, below average funding, and adequate liquidity, as well as our view of the likelihood of government support given our assessment of the bank's high systemic importance in Kazakhstan. In our view, KKB's credit quality is likely to remain unchanged over...
Companies mentioned in this report are:
- Kazkommertsbank JSC
- Kazkommerts International B.V.
- Kazkommerts Finance 2 B.V.
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