Fitch assigns ratings to bonds KZ2C0Y05E271 (KZ2C00001808, ATFBb8) of ATFBank (Kazakhstan) at level "BBB"/"AA+(kaz)"

/Fitch Ratings, London-Moscow, August 9, 12, heading by KASE/ - Fitch Ratings has assigned ATF Bank's KZT15bn five-year issue of senior unsecured bonds a Long-term local currency rating of 'BBB' and a National Long-term rating of AA+(kaz)'. The bonds term is five years with a call option in three years. The coupons are semi-annual at a fixed annual interest rate of 7%.The terms also contain a change of control clause under which bondholders would receive the right to put the notes should UniCredit Bank Austria AG (UCA) cease to control a majority stake in ATF. UCA currently owns a 99.74% stake. ATF bank has a Long-term Issuer Default Rating (IDR) of 'BBB' with a Negative Outlook, Short-term IDR of 'F3', Long-term local currency IDR of 'BBB' with a Negative Outlook, Viability Rating of 'b-', a National Long-term rating of AA+(kaz)' with a Negative Outlook and a Support Rating of '2'. ATF could be downgraded if UniCredit S.p.A's. ('A-'/Negative) ratings are lowered. A downgrade is also possible if Fitch believes that further support from the parent has become less likely, or if a disposal of the subsidiary is being more actively pursued. ATF was the fifth-largest bank in Kazakhstan, holding around 6.9% of system assets, at 1 July 2012. It is primarily a corporate bank with 109 outlets located throughout Kazakhstan. ATF is ultimately owned by UniCredit S.p.A. Contact: Primary Analyst Aslan Tavitov Associate Director +7 495 956 9901 Fitch Ratings CIS Limited 26 Valovaya Street Moscow 115054 Secondary Analyst Anton Naberoukhin Associate Director +7 495 956 9981 Committee Chairman James Watson Managing Director +7 495 956 9901 [2012-08-10]