Moody's rates Kazkommertsbank note Ba1

Moody's Investors Service said it assigned a Ba1 long-term rating to Kazkommerts International BV's upcoming issue of senior unsecured notes, which will be unconditionally and irrevocably guaranteed by Kazakhstan-based JSC Kazkommertsbank and will represent unsubordinated and unsecured obligations of the issuer and the guarantor. The amount of the issue is expected to be $500 million with an maturity of five years.

The outlook is stable.

The agency said the rating reflects the important role Kazkommertsbank plays in the country's economy and the high likelihood of the bank receiving support from the Kazakh financial authorities in case of distress.

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