Fitch Rates JSC SB Alfa Bank Kazakhstan’s KZT4.5bn Series 2 Bonds Final ‘B+’

Oct 2. Reuters

Fitch Rates JSC SB Alfa Bank Kazakhstan's KZT4.5bn Series 2 Bonds Final 'B+'Fitch Ratings has assigned JSC SB Alfa Bank Kazakhstan’s (ABK) KZT4.5bn Series 2 senior unsecured bonds a final Long-term local currency rating of ‘B+’ and National Long-term rating of ‘BBB(kaz)’. The Recovery Rating is ‘RR4’.

The bonds carry a fixed semi-annual coupon of 7% and have a maturity date five years from the issuance date. No put option is envisaged. The bank would seek to obtain a local exchange listing for the issued bonds.

For key rating drivers and rating sensitivities, see “Fitch Assigns JSC SB Alfa Bank Kazakhstan Forthcoming Series 2 Bonds ‘B+(EXP)’ Expected Rating”, dated 01 August 2013 at www.fitchratings.com.

The issuer’s other ratings are unaffected:

Long-term foreign-currency Issuer Default Rating (IDR): ‘B+’; Outlook Stable

Short-term foreign-currency IDR: ‘B’

Long-term local-currency IDR: ‘B+’; Outlook Stable

National long-term rating: ‘BBB(kaz)’; Outlook Stable

Viability Rating (VR): ‘b+’

Support Rating (SR): ‘4’

http://www.reuters.com/article/2013/10/02/fitch-rates-jsc-sb-alfa-bank-kazakhstans-idUSFit67195020131002

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