STANDARD & POOR'S RAISED RATINGS OF KAZKOMMERTSBANK AND HALYK BANK OF KAZAKHSTAN

/IRBIS, Apr.27, 00/ - Moscow office of REUTERS informed yesterday that the rating agency Standard & Poor's (S&P) raised ratings of two Kazakhstani markets: OJSC "KAZKOMMERTSBANK" (Almaty) and OJSC "Halyk Bank of Kazakhstan". The ratings were raised from "negative" to "stable". The credit ratings of the banks were not changed. It is said that the change in ratings reflects the improvement in the prospects for Kazakhstani economy after the difficulties of Russian crisis in 1998-1999, and devaluation of the tenge in April of 1999. Full text of the message in Russian and English will be published by IRBIS today.