Moody's снизило прогноз рейтингов 4 банков Казахстана, повысило - АО "Банк Развития Казахстана"

/REUTERS, 19.05.06/ - Международное рейтинговое агентство Moody's понизило прогноз депозитных рейтингов четырех казахстанских банков "Ва1" до стабильного с позитивного и включило рейтинг государственного Банка развития Казахстана (БРК) "Ваа3" в список на возможное повышение. Вслед за снижением прогноза суверенного потолка рейтингов казахстанских банков, Moody's изменило на "стабильный" прогноз рейтингов по валютным депозитам Казкоммерцбанка, банка ТуранАлем, Халык банка, и банка ЦентрКредит. Кроме того, прогноз рейтинга финансовой устойчивости ЦентрКредита изменен на стабильный с позитивного. Ниже приводится оригинальный текст сообщения Moody's. MOODY'S CHANGES TO STABLE FROM POSITIVE THE OUTLOOKS ON THE Ba1 FOREIGN CURRENCY DEPOSIT RATINGS OF FOUR BANKS IN KAZAKHSTAN; Baa3 ISSUER RATING FOR DEVELOPMENT BANK OF KAZAKHSTAN PLACED ON REVIEW FOR POSSIBLE UPGRADE Outlook on Bank CenterCredit's FSR and debt ratings revised to stable from positive Moscow, May 19, 2006 -- Following an earlier sovereign rating action that placed Kazakhstan's Baa3 foreign currency bond rating on review for possible upgrade while at the same time changing the outlook on the country's foreign currency bank deposit ceiling to stable from positive, Moody's has changed to stable from positive the outlook on the Ba1 long-term foreign currency deposit ratings of Kazkommertsbank, Bank TuranAlem, Halyk Bank and Bank CenterCredit. The Ba1 senior unsecured debt rating and Ba3 junior subordinated debt rating ofCenterCredit International B.V., a Netherlands-based special-purpose vehicle of Bank CenterCredit, have also been revised to stable from positive. In addition, the Baa3 issuer rating for the Development Bank of Kazakhstan has been placed on review for possible upgrade. The rating agency also revised the outlook on Bank CenterCredit's D- financial strength rating (FSR) to stable from positive. The Ba1/NP deposit ratings and the D- FSR of ATF Bank, all of which carry a stable outlook, have been affirmed, as has the Baa2 local currency issuer rating of Kazakhstan Mortgage Company. The rating agency noted that the outlook change on the Ba1 long-term foreign- currency deposit ratings of Kazkommertsbank, Bank TuranAlem, Halyk Bank and Bank CenterCredit reflects growing concerns over the very rapid credit expansion in the Kazakh banking sector during recent years, with potential negative medium-term implications for the banks' asset quality. In addition, as the growth in the domestic deposit base has been lagging behind loan growth, the banks have become increasingly reliant on foreign borrowings for funding, thus assuming significant refinancing risk and becoming vulnerable to potential swings in international investors' sentiment towards lending to emerging markets in general and to the Central Asia/CIS region in particular. Moody's regards these developments as inconsistent with an investment-grade foreign-currency bank deposit ceiling, which earlier led to a change of outlook on Kazakhstan's Ba1 deposit ceiling from positive to stable, and is now supplemented by a corresponding rating action with regard to the outlook on the foreign currency deposits of four major local banks. The outlooks on the Ba1 senior unsecured and Ba3 junior subordinated debt ratings of CenterCredit International B.V. have followed the change of outlook on Bank CenterCredit's Ba1 long-term deposit rating, and are now in line with the stable outlooks on debt ratings of other large Kazakh banks involved in this rating action. Moody's further commented that the change of outlook for Bank CenterCredit's D- FSR to stable from positive has been driven by similar concerns related to the country's banking sector developments. According to Moody's, the systemic risk in the Kazakh banking sector has increased, and therefore only institutions with exceptionally strong franchises and relatively well-managed risk profiles may potentially qualify for a D level FSR. Moody's added that while the foreign currency deposit ratings of all banks remain in the speculative grade category, the foreign currency debt ratings of some banks have been placed in the investment grade category, and with some piercing the country ceiling for bonds. This is due to Moody's approach which regards foreign-currency bonds issued under foreign law and widely held by international investors as likely to be exempted from a foreign-currency payments moratorium, as may be declared by the government in times of stress. Please refer to Moody's publication: "Piercing the Country Ceiling: An Update" from January 2005. According to Moody's, the Baa3 foreign-currency issuer rating for a Kazakh government-related issuer (GRI), Development Bank of Kazakhstan (DBK), which is closely linked to the Baa3 foreign-currency bond rating for Kazakhstan, has been placed under review for possible upgrade, mirroring an earlier decision to place the relevant country ceiling under review for upgrade. Moody's assessments of DBK's baseline credit risk, default dependence, and government support remain unchanged at this stage. The rating action therefore reflects solely the impact of the sovereign rating actions, as applied through Moody's GRI rating methodology. An upgrade of the Kazakhstan foreign-currency bond rating would lead to an upgrade of DBK's issuer rating. The Baa2 global local currency issuer rating of another Kazakh GRI, Kazakhstan Mortgage Company, which has not been affected by the rating action on the country's foreign-currency bond ceiling, has been affirmed with a stable outlook. The outlooks on the following long-term deposit ratings have been revised to stable from positive: Kazkommertsbank: Ba1 foreign-currency deposit rating Bank TuranAlem: Ba1 foreign-currency deposit rating Halyk Bank: Ba1 foreign-currency deposit rating Bank CenterCredit: Ba1 foreign-currency deposit rating The outlook on the following FSR has been revised to stable from positive: Bank CenterCredit: D- FSR The outlook on the following debt ratings has been revised to stable from positive: CenterCredit International B.V.: Ba1 senior unsecured debt and Ba3 junior subordinated debt The following rating has been placed on review for possible upgrade: Development Bank of Kazakhstan: Baa3 foreign-currency issuer rating The following ratings have been affirmed: ATF Bank: Ba1 foreign-currency deposit rating and D- FSR affirmed with a stable outlook Kazakhstan Mortgage Company: Baa2 local currency issuer rating affirmed with a stable outlook On Review for Possible Upgrade: ..Issuer: Development Bank of Kazakhstan ....Issuer Rating, Placed on Review for Possible Upgrade, currently Baa3 Outlook Actions: ..Issuer: Bank CenterCredit ....Outlook, Changed To Stable From Positive ..Issuer: Bank TuranAlem ....Outlook, Changed To Stable From Stable(m) ..Issuer: CenterCredit International B.V. ....Outlook, Changed To Stable From Positive ..Issuer: Development Bank of Kazakhstan ....Outlook, Changed To Rating Under Review From Positive ..Issuer: Kazkommertsbank ....Outlook, Changed To Stable From Stable(m) London Adel Satel Managing Director Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Moscow Andrey Naumenko Vice President - Senior Analyst Financial Institutions Group Moody's Eastern Europe Telephone: +7-495-771-7146 Facsimile: +7-495-937-8290 [2006-05-19]