Sovereign Wealth Fund Samruk-Kazyna (Kazakhstan) proposed bonds issue assigned preliminary rating BBB+ by Standard & Poor’s

Sovereign Wealth Fund Samruk-Kazyna (Kazakhstan) proposed bonds issue assigned preliminary rating BBB+ by Standard & Poor'sStandard & Poor’s Ratings Services said today that it had assigned its ‘BBB+’ preliminary long-term senior unsecured local currency debt rating to the KZT75 billion seven-year notes to be issued by Kazakhstan’s state-owned holding company Samruk-Kazyna (foreign currency BBB/Stable/A-3; local currency BBB+/stable/A-2).

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S&P affirms Eurasian Bank (Kazakhstan) credit ratings at “B/B”, revised the national scale rating from “kzBB” to “kzBB+”, outlook “Stable”

S&P affirms Eurasian Bank (Kazakhstan) credit ratings at "B/B", revised the national scale rating from "kzBB" to "kzBB+", outlook "Stable"Standard & Poor’s Ratings Services said today it revised its outlook on Kazakhstan-based JSC Eurasian Bank to stable from negative. At the same time, the ‘B/B’ long- and short-term counterparty credit ratings on the bank were affirmed. The national scale rating was raised to kzBB+’ from ‘kzBB’.

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S&P affirms ratings of Kazkommertsbank, Nurbank and AsiaCredit Bank; outlook changed to Stable

S&P affirms ratings of Kazkommertsbank, Nurbank and AsiaCredit Bank; outlook changed to StableStandard & Poor’s Ratings Services said today it revised its outlooks on Kazakhstan-based Kazkommertsbank (JSC) (KKB), JSC Nurbank, and JSC AsiaCredit Bank to stable from negative. At the same time, the long- and short-term counterparty credit ratings on the banks were affirmed. We also assigned our ‘kzBB+’ Kazakhstan national scale rating to Nurbank.

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Fitch affirms ratings of ATFBank, Development Bank of Kazakhstan and KazAgroFinance, ATFBank ratings outlook revised from “Stable” to “Positive”

Fitch affirms ratings of ATFBank, Development Bank of Kazakhstan and KazAgroFinance, ATFBank ratings outlook revised from "Stable" to "Positive"Fitch Ratings has revised ATF Bank’s Outlook to Positive from Stable and affirmed its ratings. The agency has also affirmed the ratings of two other Kazakh banks, Development Bank of Kazakhstan (DBK) and KazAgroFinance (KAF). The rating actions follow Fitch’s recent revision of the Outlooks on Kazakhstan’s ratings to Positive from Stable (see ‘Fitch Revises Kazakhstan’s Outlook to Positive; Affirms ‘BBB-‘, dated 20 December 2010 and available at www.fitchratings.com. A summary of rating actions is presented at the end of this commentary.

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FITCH AFFIRMS KAZAKHSTAN RATINGS, CHANGES FORECAST TO POSITIVE

FITCH AFFIRMS KAZAKHSTAN RATINGS, CHANGES FORECAST TO POSITIVEFitch Ratings has revised the Outlooks on Kazakhstan’s Long-term foreign and local currency Issuer Default Ratings (IDR) to Positive from Stable and affirmed the ratings at “BBB-” and “BBB”, respectively. The agency has also affirmed the Short-term foreign currency IDR at “F3” and the Country Ceiling at “BBB”.

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