Fitch lowers Kazkommertsbank

Fitch Ratings said it downgraded Kazkommertsbank’s long-term foreign- and local-currency issuer default ratings to B- from B and viability rating to B- from B.

The outlook is negative.

The agency also said it downgraded BTA Bank’s long-term issuer default ratings to CCC from B- and withdrew the entity’s ratings.

The ratings of the bank’s Russian subsidiary, Moskommertsbank, also were withdrawn.

The ratings reflect negative views of the bank’s problem exposures and their recovery prospects, Fitch said, and a significant weakening in the bank’s pre-impairment performance.

The ratings also consider the moderate loss absorption capacity offered by the bank’s capital, the agency said.

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