Moody's lifts Kaspi Bank view to positive

Moody's Investors Service said it revised Kaspi Bank JSC's outlook to positive from negative.

The agency also said it affirmed the bank's long-term local- and foreign-currency deposit ratings at B1, long-term local-currency senior unsecured medium-term notes program at provisional B2, long-term local-currency subordinate debt at B3 and subordinate medium-term notes program rating at provisional B3.

The bank's baseline credit assessment and adjusted baseline credit assessment also were affirmed at B2 and the counterparty risk assessment at Ba3(cr)/NP(cr).

Moody's said it incorporates a moderate probability of government support into the bank's deposit ratings, which results in a one-notch uplift above the bank's baseline rating.

The agency also said it upgraded the national scale long-term deposit rating to Baa2.kz from Baa3.kz.

The outlook revision reflect the improving asset quality indicators of the bank and decreased credit costs, improved coverage of problem loans by reserves and strengthening profitability metrics, Moody's said.

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