Fitch rates Kazkommerts notes BB+

Fitch Ratings said it assigned Kazkommerts International BV's $500 million 7 ½% notes due November 2016 a final long-term BB+ rating. The issue was made under the $3 billion guaranteed debt issuance program rated long-term BB+ for foreign-currency notes with maturities in excess of one year and short-term B for foreign-currency notes with maturities of less than one year.

The notes are unconditionally and irrevocably guaranteed by Kazakhstan's Kazkommertsbank, which has a foreign-currency issuer default rating of BB+, short-term foreign-currency B, local-currency issuer default rating at BBB-, short-term local-currency F3, individual rating of C/D and support rating of 3 with stable outlook.

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