Fitch Ratings affirmed Development Bank of Kazakhstan's USD2bn MTN Programme at long-term 'BBB'/Short-term 'F3'

/Fitch Ratings, London/Moscow, October 24, 07/ - Fitch Ratings has today affirmed the Development Bank of Kazakhstan's (DBK) medium-term note (MTN) programme at Long-term 'BBB'/Short-term 'F3', following the increase in the size of the programme to USD2bn from USD1bn. At the same time, it has assigned the upcoming issue under the programme of fixed-rate notes an expected 'BBB' rating. The final rating for the issue is contingent on receipt of final documents conforming materially to information already received. This is the fifth issue under the programme. The notes will rank at least equally in right of repayment with all of DBK's other unsubordinated obligations, except for those preferred by local legislation. DBK is a Kazakhstani development bank founded in 2001 to foster growth of non-extracting industries in Kazakhstan. It currently provides both private and public sector companies with medium- and long-financing as well as pre-export loans and guarantees. DBK is owned by "Sustainable Development Fund "Kazyna". Contact: Maxim Miller, Moscow, Tel.: +7 495 956 9901; Dmitri Angarov, +7 495 956 9901 Media Relations: Alla Izmailova, Moscow, Tel: +7 495 956 9903; Hannah Warrington, London, Tel: +44 (0) 207 417 6298. [2007-10-28]