S&P affirms five Kazakh banks

Standard & Poor's said it affirmed its long- and short-term counterparty credit ratings on the five largest private sector banks in the Republic of Kazakhstan (foreign currency BBB-/negative/A-3, local currency BBB/negative/A-3), namely BTA Bank JSC (BB/B), Kazkommertsbank (JSC) (BB/B), Halyk Savings Bank of Kazakhstan (BB+/B), Alliance Bank JSC (B+/B), and ATF Bank (BB+/B).

At the same time, S&P said it revised the outlook on ATF to negative from stable while the outlooks on the other four banks remain negative.

The rating actions follow the recently announced government support measures that reduce the immediate downgrade pressure on BTA, KKB, Halyk, and Alliance, the agency said.

For Alliance, and similar to these other three banks, the agency said it now gives greater weight for potential government support in the ratings.

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