S&P: Kazakhstan-Based Alliance Bank JSC Upgraded To ‘B-/C’ On Completion Of Restructuring; Outlook Stable

S&P: Kazakhstan-Based Alliance Bank JSC Upgraded To 'B-/C' On Completion Of Restructuring; Outlook StableStandard & Poor’s Ratings Services said today that it had raised its long-term counterparty credit ratings on Kazakhstan-based Alliance Bank JSC to ‘B-‘ from ‘D’ and its short-term counterparty credit ratings to ‘C’ from ‘D’. The outlook is stable. At the same time, we assigned a Kazakhstan national scale rating of ‘kzBB-‘.

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Ablyazov/Dzhakishev: is there a connection?

Ablyazov/Dzhakishev: is there a connection?Most of Kazakhstan’s long-fingered gentry with the law at their heels is on the run these days. Top figure among the alleged white-collar criminals is Mukhtar Ablyazov, the former head of Bank TuranAlem who is believed to have created much of the multi-billion hole the troubled bank is faced with today.

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Kazakh enterprises remain under scrutiny

Kazakh enterprises remain under scrutinyThose who had pinned their hopes on troubled Kazakh companies getting a facelift in the eyes of the international financial world by government interventions have so far been disappointed.

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Tengizchevroil: risky hope for short-run survival

Tengizchevroil: risky hope for short-run survivalKazakhstan’s largest oil producing consortium Tengizchevroil (TCO), operated by American’s oil octopus Chevron which also owns half of the shares in the venture, has promised to increase its production in order to compensate in exportation volumes for losses in exportation revenue due to plummeted crude oil prices on world markets through the winter.

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