/KASE, February 26, 16/ – Development Bank of Kazakhstan JSC (Astana,
hereinafter – the Bank), whose bonds are officially listed on Kazakhstan Stock
Exchange (KASE), has by an official letter informed KASE of the following:
quote
... rating agency Standard & Poor's (hereinafter – the Agency) has downgraded
the Bank's long-term and short-term issuer credit ratings in foreign and local
currencies to "ВВВ-/А-3" from "ВВВ/А-2"; outlook negative.
At the same time, the long-term ratings of the senior unsecured debt obligations
(ISIN XS0860582435, XS0248160102, XS0220743776, MYBVI1202859,
KZ2C00003002) were downgraded by the Agency to "ВВВ-" from "ВВВ".
The Bank's credit ratings were downgraded resulting from the appropriate rating
actions with regard to sovereign ratings of the Republic of Kazakhstan.
unquote
The said letter and report of the agency Standard & Poor's of February 24, 2016,
provided by Development Bank of Kazakhstan JSC, were released on KASE
website in English at
http://www.kase.kz/files/emitters/BRKZ/brkz_rating_240216.pdf
[2016-02-26]