Subsidiary Organization VTB Bank (Kazakhstan) says S&P Global Ratings downgraded and suspended the bank's ratings

/KASE, March 5, 2022/ – Subsidiary Organization VTB Bank (Kazakhstan) (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the following: quote ... S&P Global Ratings downgraded the long-term credit rating of VTB Bank (Kazakhstan) from "BB+" to "BB", downgraded the rating on national scale from "kzAA" to "kzA+", placed the ratings on the Credit Rating Review List with a negative outlook, suspended them and said they would consider the bank's suspension status and possibly reinstate it if the OFAC sanctions were lifted, other things being equal. unquote [2022-03-05]