Moody's cuts three Kazakh banks

Moody's Investors Service said it downgraded the senior unsecured debt ratings of BTA Bank, Temirbank and Alliance Bank to C from Ca.

The outlook is stable. This concludes the review begun in early 2009.

Moody's said the downgrade of BTA Bank reflects its large losses and negative capitalization.

The downgrade of Temirbank's ratings was prompted by the weakening of the bank's financial strength rating and by the downgrade of its parent BTA Bank.

The lowering of Alliance Bank's senior unsecured debt rating reflects the large losses incurred by the bank over the past year that led to its substantial negative capitalization, the agency noted.

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