/KASE, April 1, 2024/ – ForteBank JSC (Astana), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release dated April 1, 2024:
quote
Rating agency S&P Global Ratings has withdrawn ForteBank's ratings due to the
bank's decision to suspend its participation in the agency's rating process.
At the end of March 2024, S&P upgraded ForteBank's rating on national scale to
"kzA" from "kzA-", upgrading the outlook to "Positive". And at the time of the
review, ForteBank's long-term and short-term credit ratings were at "BB-/B", the
rating on national scale was "kzA", the rating outlook was "Positive".
"We are grateful to S&P for their long-term cooperation. As the current
situation shows, it is enough for a bank to have ratings from two agencies to
confirm its creditworthiness and stability for clients, shareholders and
investors. ForteBank's ratings from two international agencies Moody's and
Fitch fully reflect the bank's high financial performance, the chosen business
model and prospects for the bank's development in the market. The bank's team
is consistently implementing the bank's development strategy, ensuring
digitalization of services, sustainable growth and balanced portfolios," said
Bekzhan Pirmatov, Chairman of the Board of ForteBank JSC.
unquote
The full version of the press release is posted at –
https://kase.kz/files/emitters/ASBN/asbn_relizs_010424.pdf
[2024-04-01]