S&P raises ATF Bank

Standard & Poor's said it raised its long-term and short-term counterparty credit ratings on Kazakhstan's ATF Bank to B+/B from B/C.

The outlook is stable.

S&P said the upgrade reflects the bank's fairly good track record of strong financial performance and business growth, improving customer franchise, and continued shareholder support through participation in capital increases.

These positive factors are still constrained by the high-risk, albeit improving, operating environment in the Republic of Kazakhstan (foreign currency BBB-/stable/A-3, local currency BBB/stable/A-3); the bank's concentrations in funding; limited capitalization; and its rapid loan growth.

© 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.