/KASE, August 27, 2026/ – Development Bank of Kazakhstan JSC (KASE ticker – BRKZ) has announced the following:

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Development Bank of Kazakhstan JSC (hereinafter – the Bank, DBK) announces that the rating agency S&P Global Ratings has upgraded the Bank's long-term and short-term credit ratings to "BBB/A-2". The outlook on the ratings is "Stable".

The upgrade of DBK's credit ratings follows a similar rating action taken by the agency regarding the sovereign credit rating of the Republic of Kazakhstan. Analysts at S&P Global Ratings highlight the Bank's close links with the state and evaluate the likelihood of extraordinary state support being provided to the Bank, if needed, as extremely high.

As part of this rating action, S&P Global Ratings also upgraded the long-term ratings of DBK's senior unsecured bonds to "BBB", while affirming the Bank's national scale rating at "kzAAA". The "Stable" outlook reflects the agency's expectations that the current sovereign credit rating of the Republic of Kazakhstan will be maintained.

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[2026-08-27]