/IRBIS, August 4, 2011/ - International rating agency Fitch Ratings has affirmed and withdrawn the ratings of "Astana - Finance", including long-term issuer default rating in foreign currency "RD" (restricted default), the press office of Fitch reports.

From the message it can be seen that the agency left under the supervision in the list Rating Watch "Negative" issuer default ratings of JSC "Leasing Company "Astana-Finance" at the "C" and withdrew the ratings of the company. Due to the fact that both the issuer made the decision to stop participating in the rating process, the agency will no longer have sufficient information to maintain the ratings, and accordingly does not conduct tests for these companies.

"Confirmation of the AF-term IDR at "RD" reflects the fact that the company has not yet completed the process of restructuring, which began shortly after its default in May 2009. Fitch left the IDR of leasing company Astana - Finance at the level of "C" on the basis of that it continues to service its obligations to third parties in accordance with the assurances of management of AF. At the same time, the agency retained the status of the Rating Watch "Negative" on IDR leasing company Astana - Finance. This reflects Fitch's expectation that the leasing company's obligations Astana - Finance before the third parties will be subject to forced exchange of debt under restructuring", - was stated in the message.

List of ratings of "Astana-Finance" JCS, which have been confirmed and withdrawn:

• Long-term foreign currency IDR is affirmed at "RD", and recalled
• Short-term foreign currency IDR is affirmed at "RD", and recalled
• Long-term local currency IDR is affirmed at "RD" and recalled
• National long-term rating is affirmed at "RD (kaz)", and recalled
• Individual rating is affirmed at "F", and recalled
• Support rating is affirmed at "5", and recalled
• Support Rating Floor affirmed at 'No Floor', and recalled
• Senior unsecured debt: affirmed at "C"/"RR4"/, and withdrawn.

List of ratings of "Astana-Finance" Leasing Company" JCS, which have been confirmed and withdrawn:

• Long-term foreign currency IDR 'C' on the list Rating Watch "Negative", and recalled
• Short-term foreign currency IDR: "C" on the list Rating Watch "Negative" and recalled
• Long-term local currency IDR 'C' on the list Rating Watch "Negative", and recalled
• National Long-term rating of "C (kaz)" remains on the list Rating Watch "Negative", and recalled
• Support rating is affirmed at "5", and withdrawn.

AF is the financial company, which committed default in May 2009 and began the negotiations on restructuring of the debt amounting to about $2 billion. Leasing Company Astana-Finance is a 100% subsidiary of "AF".

[2011-08-04]