Fitch ups seven Kazakhstani banks

Fitch Ratings said it upgraded seven Kazakhstani banks following its upgrade of Kazakhstan.

The Development Bank of Kazakhstan's long-term foreign currency debt rating was upped to BBB from BBB- and its long-term local currency debt rating to BBB+ from BBB. The long-term foreign currency and local-currency debt ratings of Kazkommertsbank, Bank TuranAlem and Halyk Bank were upgraded to BB+ from BB and BBB- from BB+, respectively. The long-term foreign currency debt ratings of ATF Bank, Alliance Bank and Bank CenterCredit were upgraded to BB- from B+.

The rating actions reflect Fitch's view of the Kazakhstani authorities' improved capacity and moderate to very strong propensity to support these banks, if required.

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