Fitch ups Halyk Bank

Fitch Ratings said it upgraded the long-term issuer default rating and senior debt of JSC Halyk Bank to BB- from B+ and affirmed its short-term foreign- and local-currency issuer default ratings at B.

Fitch affirmed Kazkommertsbank's long-term foreign- and local-currency issuer default ratings at B- and short-term foreign- and local-currency issuer default ratings at B, senior debt at B-/RR4, senior debt program at B, subordinated debt at CC/RR6 and tier 1 perpetual subordinated notes at CC/RR6. The outlook is stable.

Fitch affirmed ATF Bank's long-term foreign- and local-currency issuer default ratings at BBB, short-term foreign-currency issuer default rating at F3,senior debt at BBB and subordinated debt at BBB- with a positive outlook and its national long-term rating at AAA(kaz), national senior debt at AAA(kaz) and national subordinated debt at AA+(kaz) with a stable outlook.

Fitch affirmed Bank CenterCredit's long- and short-term foreign-currency issuer default ratings at B and senior debt at B/RR4 with a stable outlook and Kaspi Bank's long-term foreign-currency issuer default rating at B- and short-term foreign -currency issuer default rating at B with a stable outlook.

Fitch also affirmed CB Moskommertsbank's long-term foreign-currency issuer default rating at B-, short-term foreign-currency issuer default rating at B and national long-term rating at BB-(rus) with a stable outlook and Bank BCC-Moscow's long-term and short-term foreign-currency issuer default ratings at B and national long-term rating at BBB-(rus) with a stable outlook.

The ratings actions reflect the view that downside risks for Kazakh banks have been reduced following the marked improvement in the macroeconomic environment, the agency said. The ratings consider evidence of stabilization in key credit metrics in recent months, including an easing in reported arrears growth and stabilization in lending volumes.

The banks continue to benefit from the abundant liquidity in the sector, growing deposit bases and markedly reduced debt repayment burdens, Fitch said.

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