Moody's присвоило рейтинг "Ва3" владельцу АО "Альянс Банк" (Казахстан) Seimar Alliance Financial Corporation (SAFC)

/REUTERS, 04.09.07/ - Международное рейтинговое агентство Moody's присвоило долгосрочный рейтинг "Ва3" и краткосрочный "Not-Prime" казахстанской группе Seimar Alliance Financial Corporation, контролирующей Альянс-банк. Прогноз - стабильный. Долгосрочный рейтинг Альянс-банка, на который приходится 99 процентов активов и 94 процентов прибыли группы, остался на ступень выше - "Ba2". Рейтинги отражают лидирующие позиции группы на рынке потребительского кредитования в Казахстане и крепкие позиции на рынке депозитов населения, а также перспективы диверсификации бизнеса. Ниже приводится оригинальный текст сообщения агентства Moody's на английском языке. Moody's rates Seimar Alliance Financial Corporation (Kazakhstan) at Ba3/Not-Prime Moscow, September 04, 2007 - Moody's Investors Service has today assigned Ba3/Not-Prime long- and short-term foreign currency and local currency issuer ratings to Seimar Alliance Financial Corporation ("SAFC"), the holding company which includes Alliance Bank, (Ba2/NP/E+) among others. The outlooks for the ratings are stable. According to Moody's, the SAFC's ratings reflect (1) the group's leading position in Kazakhstan's retail lending and good positions in retail deposit- taking market; (2) the reasonable prospects for the further diversification of its business; (3) SAFC's recognisable brand; and (4) its adequate strategy for business expansion. SAFC's ratings also reflect the low double-leverage ratio (less than 100%) and Moody's expectations that it will not materially exceed 100% over the short to medium term. In addition, the rating incorporates the rating agency's opinion that the holding will benefit from a degree of systemic support, because it is regulated on a consolidated basis by AFN. In addition, the support assumptions reflect Moody's view that, in the event of the holding company becoming bankrupt, the solvency of Alliance bank is also likely to be negatively affected. Moody's added that the ratings reflect the structural subordination of holding company creditors to those of the group's operating banks, mostly notably Alliance bank in the event of difficulties. In addition, the rating is constrained by potential challenges in managing an array of businesses in the group, including (1) uncertainties over whether risk management and operational management are adequate to handle the planned rapid growth of the group, (2) the significant risk appetite and relatively weak control systems on a group-wide basis and (3) the high reliance on external wholesale funding for business growth. Alliance bank is the principal operating subsidiary of SAFC in terms of balance sheet size and profitability, accounting for 99% of SAFC's assets and 94% of revenues at the end of H1 2007. The group also has investments in a small bank in Russia, non-banking lending companies, financial brokerage and business support companies. The upgrade of Alliance bank, or improvement in diversification of businesses, or shift in the weight of the revenue streams toward the higher- rated companies could form the basis for upgrading SAFC. A downgrade of Alliance bank, or the domination of the revenue-generating structure by the lower-rated companies in the group, could lead to a downgrade of SAFC. However, this is not expected over the near term. Based in Almaty, Kazakhstan, SAFC is a holding company which includes a banking segment (represented largely by Alliance bank), non-banking lending, financial brokerage and business support segments. It reported total assets of US$7.3 billion and equity US$469 million at the end of 2006. London Adel Satel Managing Director Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Moscow Vladlen Kuznetsov Asst Vice President - Analyst Financial Institutions Group Moody's Eastern Europe Telephone: +7 495 641-1881 Facsimile: +7 495 641-1897 [2007-09-05]