S&P has assigned rating "ВВ" to eurobonds of Development bank of Kazakhstan
27.09.02 00:00
/REUTERS, London-Moscow, September 27, 02/ - International rating agency
Standard & Poor's Ratings Services assigned on Friday rating "ВВ" to mid-term
program of borrowings of Development bank of Kazakhstan, according to which
there is to be made eurobonds issue in the amount of $400m in 2002-2005.
The program was approved in the beginning of September, and on Friday
Development bank floated the first issue within the framework of it having sold
eurobonds in the amount of $100m.
"Ratings of Development bank reflect the important role of the bank in
realizing of policy of the country's Government (rating of liabilities in
domestic currency "ВВ+", liabilities in foreign currency "ВВ" with positive
outlook), and also the gfact that it is entirely state rating and on this
reason it has good chances for getting of Government's support", - said an
analyst of Standard & Poor's Luk Marshan.
He added that rating of Development bank is also supported by conservative
policy of the bank's borrowings and absence at Kazakhstan banking sector of
other financial institutions, which give long-term credits.
[2002-09-27]