Ablyazov’s many faces keep haunting Kazakh banks

Ablyazov’s many faces keep haunting Kazakh banksMukhtar Ablyazov, whose name pops up in numerous cases of asset stripping, fake loans and investments, forgery, cash embezzlement and related infringements all but around the globe stretching from Kazakhstan to Latvia, from Siberia to Ukraine (where a supposedly related murder case is under dragging investigation) and from Kyrgyzstan to the UK, has started to feel the heat increasing in his place of exile in a London suburb, with the warrant for the arrest issued by a British court of law of one of his closest associates. For Kazakh banks, though, the intensifying hunt for the country’s champion business hooligan is becoming a quest of despair, as the absence of a chance to recover at least some of the many billions “disappeared” during the years Ablyazov was a major co-owner and president of the one-time largest bank of Kazakhstan BTA

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Mukhtar Ablyazov’s united kingdom: a tale of four files/III

Mukhtar Ablyazov’s united kingdom: a tale of four files/IIIFour cases are currently pending at the High Court of London concerning the freezing of assets belonging to entities under control of former BTA Bank head Mukhtar Ablyazov and a number of associates who have seen their accounts frozen (but for some generous pocket money) and their passports taken. The first one, dubbed the Chrysopa case, leads to The Netherlands.

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Fitch upgrades ratings of Halyk Savings Bank of Kazakhstan, affirms those of Kazkommertsbank, ATFBank, Bank CenterCredit and Kaspi Bank

Fitch upgrades ratings of Halyk Savings Bank of Kazakhstan, affirms those of Kazkommertsbank, ATFBank, Bank CenterCredit and Kaspi BankFitch Ratings has upgraded the Long-Term Issuer Default Ratings (IDRs) of Halyk Bank of Kazakhstan to ‘BB-‘ from ‘B+’ and affirmed the IDRs of four other Kazakh banks, namely Kazkommertsbank (KKB), ATF Bank, Bank Centercredit (BCC) and Kaspi Bank. At the same time, Fitch has affirmed the ratings of the Russian subsidiaries of BCC and KKB. A full rating breakdown is provided at the end of this comment.

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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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