S&P gives Kazkommertsbank floaters BBB, AAA

Standard & Poor's said it assigned its preliminary ratings to JSC Kazkommertsbank's Kazkommerts DPR Co. series 2005AB and 2005C floating-rate notes due 2012.

The preliminary AAA rating on series 2005A reflects the credit enhancement provided by the full financial guarantee insurance policy from Ambac Assurance Corp. (AAA insurer financial enhancement rating), the agency said.

The preliminary BBB rating on series 2005B and 2005C and the preliminary BBB underlying rating on series 2005-A reflects S&P's bank survivability assessment of KKB over the term of the transaction, as well as other structural features that mitigate sovereign interference risk and other credit risks.

© 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.