Moody's rates ATF Bank notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to the senior unsecured foreign currency notes expected to be issued by ATF Bank (Kazakhstan) in October.

The outlook is stable.

According to Moody's, the Ba1 rating incorporates potential support from the Kazakhstani authorities in the event of need, in reflection of ATF Bank's importance to the national banking system as the country's fourth-largest bank with a significant market share in terms of banking assets as of June 30, Moody's said.

However, the rating agency cautioned that any outside support from the authorities in case of distress might be of a limited nature and its volume and timeliness uncertain, thus preventing Moody's from rating the senior unsecured notes at the same level as the Baa3 country ceiling.

© 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.