Moody's: DBK view negative

Moody's Investors Service said it changed the outlook on the following ratings of DBK Leasing to negative from stable: the Ba3 long-term local and foreign currency issuer ratings, the provisional Ba3 local currency rating assigned to the issuer's KZT 15 billion domestic bond program, and the Ba3 local currency debt rating assigned to the issuer's senior unsecured KZT 5 billion medium-term note issued under this program.

DBK Leasing's short-term local and foreign currency ratings of Not Prime remained unchanged.

"Moody's decision to change the outlook on DBK Leasing's ratings to negative from stable is driven by the significant reduction in its safety buffers in the form of capital and loan loss reserves that materialized over time as a result of worsening asset quality and still weak profitability," Maxim Bogdashkin, a Moody's assistant vice president, said in a news release.

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