Halyk Savings Bank of Kazakhstan (Kazakhstan) says Standard & Poor’s upgraded bank’s long-term credit rating to “BB”

December 14. KASE

Halyk Savings Bank of Kazakhstan (Kazakhstan) says Standard & Poor's upgraded bank's long-term credit rating to "BB"On 12 December 2011, the international rating agency Standard & Poor’s (hereinafter – S&P) announced the upgrade of long-term issuer credit rating of JSC “Halyk Bank” (hereinafter – the Bank or Halyk) to “BB” from “B+”. The short-term issuer credit rating was affirmed at “B”. The outlook on the Bank’s ratings remains stable.

Halyk’s stand-alone credit profile (SACP) is ‘BB-‘. Thus, its issuer credit rating of ‘BB’ is one notch higher than its SACP, reflecting Halyk’s “high systemic importance in Kazakhstan and S&P’s assessment of the Government as supportive”.

The above ratings reflect S&P’s view of “adequate business position, moderate capital and earnings, and adequate risk position, above average funding, and adequate liquidity” of Halyk under S&P’s revised bank criteria.

The Bank’s new ratings are one of the highest among Kazakhstan banks and confirm Halyk’s leading position in the market.

http://www.kase.kz/en

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Kazkommertsbank (Kazakhstan) informed Standard & Poor’s upgraded the bank long-term credit ratings to “В+”/”В”

December 14. KASE

International rating agency Standdard&Poor’s informed about increasing of long-term credit rating of Kazkommertsbank until B+ from B and short-term rating until B from C as a result of reviewing of evaluating criteria. Rating forecast remains stable.

http://www.kase.kz/en

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