Moody's rates Alliance Bank of Kazakhstan notes Ba2

Moody's Investors Service said it assigned a Ba2 long-term rating to the upcoming issue of senior unsecured notes by Alliance Bank of Kazakhstan. The agency said the amount of the issue is expected to be $150 million with a tenor of three years.

The outlook is stable.

The bank's existing Ba2 long-term foreign currency deposit rating, Not-Prime short-term rating and E+ financial strength rating remain unchanged, Moody's said.

The rating is based on the bank's fundamental credit quality, which factors in a limited degree of support from the country's authorities in case of need, given the bank's strengthening franchise and increasing importance to the national banking system.

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