/KASE, May 28, 14/ – Following a decision of Kazakhstan Stock Exchange (KASE)
Management Board of May 21, 2014 changes and addition No. 5 (amendments) to KASE
internal document "Methodology of Stock Market Indices Calculation"
(Methodology) were approved, effective as of June 3, 2014.
The amendments were made for purposes of increasing the representativeness
of values of corporate bonds indexes – KASE_BY, KASE_BC and KASE_BP
(hereinafter – indexes of series KASE_B*).
The mentioned amendments mean the following:
1) criteria for inclusion of corporate bonds in the representative list of
indexes of series KASE_B*, as well as for their quotation in that list have
been supplemented by the following conditions:
• bonds must be issued in accordance with the legislation of Kazakhstan and
have a rating not lower than "BB-" on scale of Standard & Poor's, and/or
Fitch, and/or Rating agency "KZ-rating", or not lower than "Ba3" on scale of
agency Moody's, or not lower than "ВВ3" on scale of Rating agency of
Regional Financial Center of Almaty, or not lower than "A" on scale of
Rating agency Expert RA Kazakhstan;
• bonds must have fixed (non-indexed) face value;
• bonds must be quoted in KASE trading system in "net" prices (not taking into
account the accrued but unpaid interest), and regular trades in them must be
opened in this system;
• the bonds issuer must not have unsettled debts on coupon payments
and/or debt principal on bonds he issued.
2) Indicators of weighted coefficient and total market value of corporate bonds
were excluded from calculation of series KASE_B* indexes;
3) periodicity and terms of review of the representative list for calculation of
series KASE_B* indexes was changed: from now on the list will be reviewed
once every two months instead of a monthly review;
4) the Methodology text was edited.
The digital row of indexes of series KASE_B* will be continued with values of
indexes of series KASE_B*, calculated in accordance with the new procedure.
The revised text of the Methodology will be released on KASE website at
http://www.kase.kz/files/normative_base/indicators_met_eng.pdf soon.
Current and historical values of indexes of series KASE_B*, as well as the
representative list of corporate bonds for their calculation are available on
KASE website at
http://www.kase.kz/en/index_bonds
[2014-05-28]