Moody’s downgraded Corporate Rating of National Company KazMunayGaz (Kazakhstan) to Baa3, outlook Stable

Moody's downgraded Corporate Rating of National Company KazMunayGaz (Kazakhstan) to Baa3, outlook StableMoody’s Investors Service has today undertaken a series of rating actions related to JSC National Company KazMunayGas (“KMG NC” or “the group”) and its subsidiaries in conjunction with the downgrade of the group’s corporate family rating (CFR) by one notch to Baa3; and the change of outlook to stable from negative.

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Mukhtar Ablyazov’s thefts haunt BTA

Mukhtar Ablyazov's thefts haunt BTAThe spectre of Bank TuranAlem (BTA), Kazakhstan’s one-time best-performing bank now in intensive care supervised by the state, going under has become less imposing since in late August a majority of external creditors – most of them western banks – agreed to compromise on a paper-for-cash deal for the bulk of the bank’s debts, worth in the order of 12 billion US dollar in lump sums and arrear interest.

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BTA Bank Subsidiary Insurance Company London-Almaty (Kazakhstan) announced 2010 seven months results

BTA Bank Subsidiary Insurance Company London-Almaty (Kazakhstan) announced 2010 seven months resultsBTA Bank Subsidiary Insurance Company London-Almaty (Almaty), shares of which are listed in Kazakhstan Stock Exchange (KASE) official list, Insurance Company London-Almaty Management summarized performance results for seven months of 2010. The volume of accumulated premiums on the traditional insurance made up KZT919,047,088 th. or by 14 % more if compared with the same 2009 period. The growth was indicated on mandatory and voluntary insurance types.

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ENRC announced its subsidiary ENRC Congo BV acquired 50.5% of shares of Camrose Resources Limited

ENRC announced its subsidiary ENRC Congo BV acquired 50.5% of shares of Camrose Resources LimitedEURASIAN NATURAL RESOURCES CORPORATION PLC (London), shares which are listed on Kazakhstan Stock Exchange (KASE), announced today that its wholly owned subsidiary ENRC Congo BV, has privately purchased 50.5% of the outstanding common shares of Camrose Resources Limited (‘Camrose’). The Camrose shares have been purchased from Silvertide Global Limited, Zanette Limited and Cerida Global Limited (‘Cerida’) which are held by the Gertler Family Trust (the Acquisition’).

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S&P affirms ratings of EDB, outlook remains stable

S&P affirms ratings of EDB, outlook remains stableStandard & Poor’s Ratings Services said today that it affirmed its ‘BBB’ long-term and ‘A-3’ short-term foreign currency issuer credit ratings on Kazakhstan-based Supranational Eurasian Development Bank (EDB). The outlook remains stable. We also affirmed the Kazakh and Russian national scale ratings at ‘kzAA+’ and ruAAA’, respectively.

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Moody’s downgrades ATFBank to Ba2

Moody's downgrades ATFBank to Ba2Moody’s Investors Service has today downgraded ATF Bank’s local and foreign-currency deposit and senior unsecured debt ratings to Ba2 from Ba1. The bank’s E+ bank financial strength rating (BFSR) has been affirmed, which now translates to a Baseline Credit Assessment (BCA) of B3. ATF Bank’s B1 foreign-currency junior subordinated debt rating has also been affirmed. At the same time, Moody’s changed the outlook on all of the bank’s ratings to stable from negative.

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