Moody's rates Kazkommerts floaters Aaa

Moody's Investors Service said it assigned provisional ratings of provisional Aaa to the $200 million series 2005-A floating-rate notes due 2012 to be issued by Kazkommerts DPR Co.

The agency noted the provisional ratings are based primarily on the financial guaranty insurance policy to be issued by Ambac Assurance Corp. in relation to the 2005-A notes.

The above ratings address the expected loss posed to investors by the legal final maturity, S&P said noting the financial and operational strength of JSC Kazkommertsbank as originator and its importance in the banking system of Kazakhstan and the historical volumes generated by Kazkommertsbank's electronic remittance business.

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