Moody's raised ratings of three Kazakhstani banks to Ba3 from B2

/IRBS, June 20, 01/ - REUTERS informs that international rating agency Moody's Investors Service raised ratings in foreign currency deposits to Ba3 from B2 to three Kazakhstani banks: TuranAlem, Kazkommertsbank and Halyk Bank. The rating of the eurobonds issued by TuranAlem Finance B.V. and fully guaranteed by Bank TuranAlem was raised to Ba2 from B1. The change in the ratings is due to a recent statement of Moody's Sovereign Team on raising the rating of Kazakhstan on bank deposits in foreign currency to Ba3 from B2 and ceiling of currency ratings of Kazakhstan to Ba2 from B1. Forecast of all ratings is positive. Consolidated assets of Bank TuranAlem in December 2000 equaled KZT79.2bn ($544.3m), those of Halyk Bank - KZT102.19bn ($702m), and Kazkommertsbank - KZT124bn ($852.2m), is said. All data are given in compliance with International Accounting Standards (IAS).