/KASE, March 9, 2023/ – ForteBank JSC (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release:

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The international rating agency S&P Global Ratings has upgraded its outlook on ForteBank's rating to "stable" and affirmed the ratings at "BB-/B".

The change in the outlook for the bank's rating was announced following a similar change in the outlook for the sovereign rating of the Republic of Kazakhstan. On March 3, 2023, S&P revised the outlook on the country's rating from "negative" to "stable", stating the forecast expectation of Kazakhstan's GDP growth within 4% over the next three years.

The agency notes that the affirmation of ForteBank's rating at "BB-/B" reflects S&P's assessment of Forte's significant role in Kazakhstan's economy.

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The complete press release is available on – see more

[2023-03-09]