Moody’s changes Bank CenterCredit view to stable

Moody’s Investors Service said it revised the outlook for Bank CenterCredit to stable from positive.

“The outlook on the bank’s global scale ratings balances the positive credit implications of the asset quality review results and t capital replenishment plan against the negative effect on the bank from coronavirus in Kazakhstan, the oil price shock and tenge depreciation, Moody’s said.

Moody’s downgraded the bank’s long-term national scale rating to Baa3.kz from Baa2.kz, which indicates the agency’s expectations about Bank CenterCredit’s credit profile over the next 12 to 18 months, the agency said.

The agency also affirmed the bank’s Caa3 (hyb) junior subordinated foreign-currency debt rating.

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