S&P lowers KazInvestBank view to negative

S&P said it revised the outlook on KazInvestBank to negative from stable.

The agency also said it affirmed the bank’s B- long-term and C short-term counterparty credit ratings.

S&P also said it lowered the long-term Kazakhstan national scale rating on the bank to kzB+ from kzBB-.

The outlook revision stems from a view that the bank’s only moderate loss-absorption capacity leaves its credit profile vulnerable to the prolonged negative trends in Kazakhstan’s economy and banking sector, the agency said.

Low oil prices and the ensuing weak economic growth have eroded the operating environment for all Kazakhstan-based banks, S&P added.

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