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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

  • ID: 2030967
  • 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 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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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

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