/KASE, December 20, 2021/ – ForteBank (Nur-Sultan), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated December 20, 2021:
quote
On December 15, 2021, Moody's Investors Service ("Moody's") announced a decision
to upgrade the long-term deposit rating of ForteBank JSC from Ba3 to Ba2, the
outlook is "Stable". The previous upgrading in the bank's rating by the Moody’s
agency was in December 2020. Then the agency upgraded the long-term rating on
deposits of ForteBank from В1 to Ва3 with a "Stable" outlook.
For ForteBank JSC, this is not the first positive change in ratings in 2021. In
September 2021, the international rating agency S&P Global Ratings improved
the outlook on ForteBank ratings from "Stable" to "Positive", increasing the
rating on the national scale from "kzBBB" to "kzBBB+" and affirming the
long-term and short-term ratings at "B+/B". The rating agency Fitch Ratings, in
turn, upgraded the bank's long-term rating from "B" to "B+", improving the
outlook from "Stable" to "Positive".
unquote
The complete press release is available on –
https://kase.kz/files/emitters/ASBN/asbn_reliz_201221_.pdf
[2021-12-20]