Moody's may cut six Kazakh banks

Moody's Investors Service said it placed on review for possible downgrade the ratings of six Kazakh financial institutions, four of which are financial government-related issuers - namely Development Bank of Kazakhstan, Kazakhstan Mortgage Co. and KazAgroFinance, Agrarian Credit Corp. The two remaining institutions are House Construction Savings Bank of Kazakhstan - a fully government-owned bank and DBK Leasing - a leasing company.

The action follows the change in outlook on Kazakhstan's sovereign rating to stable from negative and the lowering of the country's foreign-currency bond ceiling by one notch to Baa2, Moody's said.

The review for possible downgrade was prompted by the uncertainty about the authorities' support for banks, the agency said, as well as several government-related institutions.

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