S&P: BTA Bank view negative

Standard & Poor's said it revised its outlook on Kazakhstan-based BTA Bank JSC to negative from stable. At the same time, S&P said it affirmed the long- and short-term counterparty credit ratings at B-/C and the Kazakhstan national scale rating at kzBB-.

S&P said it then withdrew the ratings at the bank's request. The agency said the outlook revision reflected its concerns about the bank's weak profitability, asset quality and capitalization.

The ratings balanced the poor credit quality of the bank's portfolio and its weak capitalization against its adequate liquidity position, S&P said.

The agency said it classified BTA Bank as a government-related entity according to its criteria.

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