ОБНОВЛЕНО - Fitch присвоило рейтинги Банку развития Казахстана

22.08.02 00:00
/REUTERS, Лондон, 22.08.02/ - Международное рейтинговое агентство Fitch присвоило государственному Банку развития Казахстана долгосрочный рейтинг "ВВ-", краткосрочный - "В" и рейтинг поддержки на уровне "4Т", говорится в сообщении агентства. Прогноз динамики долгосрочного рейтинга банка - позитивный. Банк развития Казахстана создан около года назад для финансирования средне- и долгосрочных проектов в экономике страны. Банк, акционерами которого являются наряду с правительством местные органы власти всех областей Казахстана, планирует осенью выйти на рынок еврооблигаций. Как отмечает агентство, рейтинги банка отражают, с одной стороны, значительное участие правительства в его капитале (оно владеет 75 процентами акций) и его ожидаемую роль в развитии производственной инфраструктуры страны, и, с другой стороны, отсутствие формальных гарантий по обязательствам банка со стороны правительства. Позитивный прогноз отражает мнение Fitch о возможном повышении рейтинга до уровня суверенного в случае успешного выполнения банком своих задач и демонстрации его значимости для казахстанской экономики. Суверенный рейтинг Казахстана по долгосрочным займам в валюте с начала 2002 года находится на уровне "ВВ" по методологии Fitch. Ниже следует полный текст сообщения Fitch на английском языке: "Fitch Ratings, the international rating agency, has today assigned ratings to the Development Bank of Kazakhstan (DBK) at Long-term 'BB-' (BB minus), Short- term 'B', and Support '4T'. The outlook for the Long-term rating is Positive. The ratings reflect the bank's majority ownership by the government of the Republic of Kazakhstan and its anticipated role in developing the country's production infrastructure. In the agency's opinion, the absence of a formal guarantee from DBK's majority owner does not currently justify the bank's Long- term rating to in line with the Kazakhstani sovereign ceiling (currently 'BB'). However the rating of DBK is linked to the sovereign as a result of the apparent implicit support for the bank. The Positive Outlook reflects Fitch's opinion that, once the bank has established a track record of meeting its stated objectives and has shown itself to be of importance to the development of the Kazakhstani economy, it may be upgraded to the level of the Kazakhstani sovereign Long-term foreign currency rating. This would be on the basis, in the agency's view, of the increased likelihood of support from the Kazakhstani authorities, if needed. DBK only started its lending in 2Q 2002, so its credit risk management procedures have yet to be tested. The sectors to which DBK plans to lend include metals, foodstuffs, transport and agriculture. Credit risk will need to be well- managed given Kazakhstan's volatile environment conditions, particularly as the loans are intended to be between five and twenty years in maturity and at lower than commercial rates of interest. In addition to its role in developing the production infrastructure of Kazakhstan, the bank will act as an investment agent for budgetary funds. Capitalisation is currently very strong as DBK has yet to write much business. Even so, the bank is looking to grow cautiously in the next two years. The primary sources of DBK's non-equity funding are expected to be local and foreign capital markets, syndicated loans and possibly budgetary funds. The bank is planning to issue a debut Eurobond later in 2002. DBK was founded in May 2001 and is the largest Kazakhstani bank by equity. It is 75% owned by the government of the Republic of Kazakhstan, through the Ministry of Finance (MoF), with the remaining 25% equally split between 14 oblasts (regions) and two cities (Astana and Almaty). The bank has close ties to the government reflected in the make-up of the Council of Directors, which comprises three representatives approved by the President of the Republic of Kazakhstan and four representatives of the government, including the Vice Minister of the MoF, who is the Chairman of the Council. The National Bank of the Republic of Kazakhstan (NBK) supervises the bank's compliance with accounting, payments, and money transfer matters. However, DBK is not subject to NBK prudential supervision, nor does it hold a deposit- taking licence. In the near future, the legislative changes will be deliberated as to whether to give DBK agency status, whereby the coupons on its bonds will be exempt from withholding tax and holders of its bonds can enter into repurchase agreements with NBK. Additionally, NBK is also considering whether to raise pension funds' investment limits for DBK's bonds." [2002-08-22]