Alliance Bank (Kazakhstan) says agency Standard & Poor's downgraded ratings of its bonds

/KASE, March 28, 14/ – Alliance Bank (Almaty, hereinafter – the Bank), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has announced the following: quote ... on March 27, 2014 rating agency Standard&Poor's downgraded ratings of senior unsecured and subordinated bonds of Alliance Bank to "D" due to violation of the payment term. As of the current date ratings of the Bank assigned by Standard&Poor's are as follows: - Long-term credit rating: "D" - Short-term credit rating: "D" - Rating on national scale: "D" - Rating of senior unsecured debt: downgraded to "D" from "СС" - Subordinated debt: rating downgraded to "D" from "C" unquote [2014-03-28]