S&P revises Bank CenterCredit view to negative

S&P said it revised its outlook for Bank CenterCredit to negative from stable.

It also lowered the national scale rating to kzBB+ from kzBBB but affirmed the company’s B/B long- and short-term global scale ratings.

S&P cited the continued legacy problem loans putting a strain on the bank’s capital and asset quality metrics in its decision to revise the company’s outlook.

“We consider that the bank's accumulated problem loans require additional management efforts and time to resolve despite measures to clean up the loan book and the government program to support the banking sector in 2017, under which the bank received support in the form of subordinated debt,” S&P said in a news release.

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