/KASE, August 27, 14/ – BTA Bank JSC (Almaty, hereinafter – the Bank), whose
securities are officially listed on Kazakhstan Stock Exchange (KASE), has by an
official letter informed KASE of the following:
quote
...Fitch Ratings international rating agency upgraded long-term and short-term
issuer default ratings (hereinafter - IDR) of BTA Bank JSC (hereinafter - the
Bank) in national and foreign currency. So that, long-term Bank IDRs in national
and foreign currency upgraded to B- with CCC positive outlook. Whereas, short-
term Bank IDRs in national and foreign currency upgraded to B from C and removed
from the list of Rating Watch.
Also, Fitch agency upgraded the rating on the senior unsecured debt securities
of the Bank to B-/RR4 from CCC with a positive outlook. Individual rating of the
Bank affirmed at CCC with the removing from the list of Rating Watch. Support
Rating affirmed at 5, placed on Rating Watch Positive. Support Rating Floor
affirmed at NF and withdrawn.
The upgrade of IDRs and debt ratings follows the acquisition of a 46.5% stake of
BTA Bank by Kazkommertsbank. Rating Watch Positive on Long-term IDRs reflects
Fitch's view that the risks for BTA's creditors will be more closely aligned
with those for KKB's creditors as integration of the two entities continues.
unquote
The press-release of Fitch Ratings of August 15, 2014 provided by BTA Bank, is
published on KASE website in Russian at
http://www.kase.kz/files/emitters/BTAS/btas_reliz_150814.pdf
[2014-08-27]