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Research Update: Kazkommertsbank Ratings Raised To 'B+/B' On Bank Criteria Change, Outlook Stable Dec 11 Product Image

Research Update: Kazkommertsbank Ratings Raised To 'B+/B' On Bank Criteria Change, Outlook Stable Dec 11

  • Published: December 2011
  • Standard & Poors

Abstract
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.

Action: Upgraded

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 READ MORE >

- Kazkommertsbank JSC
- Kazkommerts International B.V.
- Kazkommerts Finance 2 B.V.

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