Fitch Downgrades Kazakhstan’s Alliance Bank to ‘RD’

April 2. KASE

Fitch Downgrades Kazakhstan's Alliance Bank to 'RD'Alliance Bank (Almaty), securities of which are officially listed on Kazakhstan Stock Exchange (KASE), informed KASE by the official letter:

… 31 March 2014, Fitch Ratings has downgraded Kazakhstan’s Alliance Bank JSC’s Long-term Issuer Default Ratings (IDRs) to ‘RD’ (Restricted Default) from ‘C’ and Viability Rating (VR) to ‘f’ from ‘c’. A full list of rating actions is at the end  of this commentary

The rating actions are as follows:

– Long-term foreign and local currency IDRs: downgraded to ‘RD’ from ‘C’

– Short-term foreign and local currency IDRs: downgraded to ‘RD’ from ‘C’

– Support Rating: affirmed at ‘5’

– Support Rating Floor: affirmed at ‘No Floor’

– Viability Rating: downgraded to ‘f’ from ‘c’

– Senior unsecured debt rating: affirmed at ‘C’; Recovery Rating ‘RR4’

– Subordinated debt rating: affirmed at ‘C’; Recovery Rating ‘RR6’

http://www.kase.kz/en/main/index

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