Bank CenterCredit says S&P Global Ratings upgraded the bank's long-term rating to "B+"; outlook "Stable"
/KASE, August 8, 2022/ – Bank CenterCredit JSC (Almaty, hereinafter – the Bank), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE as follows:
quote
On July 22, 2022 international rating agency S&P Global Ratings (hereinafter – the Agency) has upgraded the Bank's long-term credit rating from "B" to "B+". The rating outlook is "Stable". At the same time, the Agency affirmed the Bank's short-term rating at B. In addition, the Agency upgraded the Bank's rating on Kazakhstan's national scale from "kzBBВ-" to "kzBBВ". The Agency believes that the Bank's business position is gradually improving due to the improved profitability and asset quality, and that the recent acquisition of Eco Center Bank JSC should further strengthen the Bank's market position and improve its profitability.
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Rating name Rating Date of confirmation/
revision
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Long-term issuer credit B+ 22.07.2022
rating
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Short-term AT 22.07.2022
issuer credit rating
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Long-term kzBBB 22.07.2022
national scale rating
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Outlook Stable 22.07.2022
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unquote
[2022-08-08]