Fitch rates Kazkommertsbank notes BB+

Fitch Ratings said it assigned final BB+ long-term ratings to Kazkommerts International BV's €750 million 6 7/8% notes due 2017 and £350 million 7 5/8% notes due 2012, which were issued under Kazkommerts International's $3 billion guaranteed debt issuance program and are unconditionally and irrevocably guaranteed by JSC Kazkommertsbank.

The bank has BB+ long- and B short-term foreign-currency issuer default ratings, BBB- long- and F3 short-term local-currency issuer default ratings, a C/D individual rating and a 3 support rating.

The outlook on the long-term foreign- and local-currency issuer default ratings are positive and stable, respectively.

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