Fitch assigns Halyk Bank's eurobond final 'BB+' rating

/Fitch Ratings, May 04, 07/ - Fitch Ratings has today assigned Kazakhstan- based Halyk Bank's ("Halyk") USD700m 7.25% eurobond due May 2017 a final Long-term 'BB+' rating. For more details on the transaction structure, please refer to the announcement of 18 April 2007 on www.fitchresearch.com. Halyk is rated Foreign Currency Issuer Default 'BB+' with a Positive Outlook, Local Currency Issuer Default 'BBB-' (BBB minus) with a Stable Outlook, Short-term Foreign Currency 'B', Short-term Local Currency 'F3', Individual C/D', and Support '3'. Halyk was the fifth largest bank in Kazakhstan, holding 10% of the system's assets at end-Q107. The bank operates the largest branch network in the country, reflecting its roots as the former state savings bank, and also acts as a non-exclusive pension and social security payment and settlement agent. Following the December 2006 IPO, institutional and individual investors now hold a 29% stake in the bank. Almex Group, beneficially owned by the daughter and son-in-law of President Nazarbayev, retains a 64% stake. Contacts: Dmitri Angarov, James Watson, Moscow, Tel: +7 495 956 9901 Media Relations: Julian Dennison, London, Tel: +44 20 7862 4080; Alla Izmailova, Moscow, Tel: +7 495 956 9903 [2007-05-07]