S&P shifts First Heartland view to stable

S&P said it affirmed its B ratings on First Heartland Jusan Bank JSC and its unsecured debt and revised its outlook to stable from negative. The agency also affirmed the kzBB+ national scale rating.

“We believe that the pressure on First Heartland Jusan Bank (FHJB)'s capitalization stemming from the purchase of ATFBank is milder than we initially expected,” S&P said in a press release.

Concurrently, the agency upgraded ATFBank to B from B- and Kazakhstan national scale rating to kzBB+ from kzBB. The outlook on the long-term issuer credit rating is stable.

© 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.