S&P gives Kazakh Agrarian loan BB+

Standard & Poor's said it assigned its BB+ long-term debt and kzAA Kazakh national-scale ratings to the $136 million senior unsecured loan to be provided to Kazakh Agrarian Credit Corp. by Dresdner Bank AG (A/negative/A-1).

At the same time the BB+ long-term issuer credit, B short-term issuer credit and kzAA Kazakhstan national-scale ratings were affirmed, the agency said.

The outlook is stable.

Kazakh Agrarian is based in the Republic of Kazakhstan (foreign currency BBB-/stable/A-3, local currency BBB/stable/A-3, Kazakhstan national-scale rating kzAAA), the agency noted, adding that the ratings are supported by strong support from the government to the company.

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