S&P: Three Kazakhstan bank views raised to stable

Standard & Poor's said it revised the outlook on Kazkommertsbank JSC, JSC Nurbank and JSC AsiaCredit Bank to stable from negative.

The agency also said it affirmed the long- and short-term counterparty credit ratings on the banks, and assigned a kzBB+ Kazakhstan national scale rating to Nurbank.

Kazkommertsbank's and Nurbank's B/C long- and short-term counterparty credit ratings were affirmed, along with AsiaCredit Bank's B/B long- and short-term counterparty credit ratings.

The outlook revisions reflect a view of the robust economic recovery in the Republic of Kazakhstan, underpinned by structural net inflows from foreign direct investment and the prospect of a doubling of oil output, S&P said.

The new outlook also considers an opinion that the banking operating environment in Kazakhstan has stabilized following the restructuring in 2010 of three of four defaulted banks, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.