Moody’s: Five Kazakhstani financials to stable

Moody's Investors Service said it changed the outlooks on the ratings of five financial institutions domiciled in Kazakhstan to stable from negative, reflecting reduced downside risks to the ratings from the government's credit strength.

At the same time, the agency affirmed the ratings of these issuers.

Specifically, Moody's changed the outlooks to stable and affirmed the ratings of the following entities: Development Bank of Kazakhstan, House Construction Savings Bank of Kazakhstan JSC, Halyk Savings Bank of Kazakhstan, Kazkommertsbank and Fund of Financial Support for Agriculture.

The actions follow stabilization of Kazakhstan's credit profile as captured by the agency’s July 26 change of outlook to stable from negative on Kazakhstan's government rating (Baa3).

© 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.