Moody's ups Kazkommertsbank view to stable

Moody's Investors Service said it changed the outlook on Kazkommertsbank's E+ bank financial strength rating to stable from negative, while the negative outlook on the deposit and debt ratings is maintained.

Moody's also said it affirmed the bank's Ba3 local- and foreign-currency deposit and senior unsecured debt ratings, B1 foreign-currency subordinated debt and Caa1 foreign-currency junior subordinated debt ratings, along with its E+ bank financial strength rating.

The outlook change takes account the bank's resilience to the ongoing adverse pressure on its asset quality, revenue generation and capitalization, the agency said.

Moody's said there is some downward pressure on its B2 baseline credit assessment, which could therefore become more weakly positioned at B3 level, and that this underlies the negative outlook on Kazkommertsbank's deposit and debt ratings.

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