Moody's rated the securities program of Development bank of KAZakhstan at Baa3

/REUTERS, London, December 19, 03/ - International Rating Agency Moody's Investors Services rated the medium term securities program of Development bank of Kazakhstan at 'Baa3'. The program volume - $400 mn. "The rating is completely based on 100 percent share of state property in bank's capital, what guarantees support in case of necessity", - the announcement of the agency states. The outlook remains stable, as the Kazakhstan's outlook of sovereign rating on loans in foreign currency. [2003-12-19]