KASE, April 22, 2020/ – Tengri Bank (Almaty), whose securities are officially
listed on the Kazakhstan Stock Exchange (KASE), has provided KASE with the press
release dated April 21, 2020, which states as follows:
quote
Moody's Investors Service, ("Moody's") has downgraded long-term local and foreign
currency deposit ratings of Tengri Bank (hereinafter, the Bank) to Caa3 from B2
on April 20, 2020. Its Baseline Credit Assessment (BCA) was down to b3; its long-
term and short-term counterparty risk ratings (CRAs) were downgraded to Caa2.
In the comments to rating downgrading, the Moody's says that the Bank’s rating
could be revised as soon as the situation stabilizes and the Bank continues to
perform all financial obligations in full and in a timely manner. In future, the
rating will be upgraded from Саа3 as soon as the Bank takes measures to
significantly improve liquidity position and receives support from its
shareholders. Despite rating downgrading, the Bank continues its work to
stabilize the situaion.
unquote
This information is available (in Russian) at –
https://kase.kz/files/emitters/DNBN/dnbn_reliz_210420_1.pdf
[2020-04-22]