Moody's понизило рейтинговые оценки АО "БТА Банк", Дочерней организации Акционерного общества "БТА Банк"-АО "Темiрбанк" и АО "Альянс Банк"

/KASE, 03.08.09/ - Международное рейтинговое агентство Moody's Investors Service понизило рейтинговые оценки по долговым обязательствам с первоочередным правом требования до "C" с "Ca" АО "БТА Банк" (Алматы), Дочерней организации Акционерного общества "БТА Банк"-АО "Темiрбанк" (Алматы) и АО "Альянс Банк" (Алматы). Рейтинговые оценки указанных банков по депозитам в национальной и иностранной валюте подтверждены на уровне "Caa3". Ниже приводится оригинальный текст сообщения Moody's на английском языке. RATING ACTION APPLIES TO BTA BANK, TEMIRBANK AND ALLIANCE BANK; DEVELOPING OUTLOOK ON DEPOSIT RATINGS /Moody's Investors Service, London, July 30, 09/ - Moody's Investors Service today downgraded to C from Ca the senior unsecured debt ratings of three Kazakh banks: BTA Bank, Temirbank and Alliance Bank. The rating agency also confirmed the Caa3 local and foreign currency deposit ratings of all three banks. These actions conclude the review initiated on these ratings in early 2009. The E bank financial strength ratings (BFSRs) and C subordinated debt ratings of the affected banks remain unchanged. However, Moody's now maps all three banks' E BFSRs to a Baseline Credit Assessment (BCA) of C, one notch lower than previously. The outlook on the banks' deposit ratings is now developing, while on all other ratings the outlook is stable. A detailed rationale for each institution's rating actions is provided below. BTA Bank Moody's decision to lower BTA Bank's BCA and downgrade its senior unsecured debt rating to C from Ca reflects the large losses (USD9.8 billion for 2008) and negative capitalisation (-USD6.3 billion as of year-end 2008) reported by the bank. The bank plans to restructure its market borrowings: based on the initial estimates made by BTA's management, the losses to be incurred by the senior creditors would be over 50% of their investments. Such estimates are in line with Moody's assessment of the potential losses for the bank's creditors. The rating agency would not expect any systemic support to be provided with regard to the bank's debt and therefore its senior unsecured debt ratings receive no uplift from its BCA of C. However, Moody's expects that, in order to maintain stability in the country's banking system, the Kazakh government might provide some support to the bank's depositors. As a result, its Caa3 foreign and local currency deposit ratings factor in Moody's assessment of a low probability of systemic support and receive a two-notch uplift from its BCA of C. Temirbank The downgrade of Temirbank's ratings has been prompted by the weakening of the bank's BFSR within its E category - now mapping to a BCA of C from Ca previously - and by the downgrade of its parent, BTA Bank. However, the bank's local and foreign currency deposit ratings of Caa3 factor in Moody's assessment of a high probability of support from BTA Bank and were therefore confirmed. As in the case of BTA Bank, Temirbank's senior unsecured debt ratings do not imply any probability of systemic support (through BTA Bank) and therefore receive no uplift from its BCA of C. Alliance Bank The lowering of Alliance Bank's BCA and the downgrade of the senior unsecured debt rating to C from Ca reflect the large losses incurred by the bank over the past year that led to its substantial negative capitalisation of USD2.9 billion as of end-May 2009, according to the bank's regulatory reports. The bank is in the process of restructuring its market borrowings: based on the options offered to the creditors, their losses may be over 50% of their investments. Such estimates are in line with Moody's assessment of the potential losses for the bank's creditors. As with the other banks affected, its Caa3 foreign and local currency deposit ratings factor in Moody's assessment of a low probability of systemic support and receive a two-notch uplift from its BCA of C. Moody's previous rating action on BTA Bank was on 27 March 2009, when the bank's local and foreign currency deposit ratings were downgraded to Caa3 from B1, foreign currency senior unsecured debt rating was downgraded to Ca from B1 and bank financial strength rating was downgraded to E from E+. The bank's deposit and senior unsecured debt ratings remained on review for possible further downgrade. Moody's previous rating action on Temirbank was on 27 March 2009, when the bank's local and foreign currency deposit ratings were downgraded to Caa3 from B3, foreign currency senior unsecured debt rating was downgraded to Ca from B3. The bank's deposit and senior unsecured debt ratings remained on review for possible further downgrade. Moody's previous rating action on Alliance Bank was on 1 April 2009, when the bank's local and foreign currency deposit ratings were downgraded to Caa3 from B2, foreign currency senior unsecured debt rating was downgraded to Ca from B2. The bank's subordinated and junior subordinated foreign currency debt ratings have been downgraded to C with a stable outlook. The bank financial strength rating (BFSR) of E has been affirmed. The bank's deposit and senior unsecured debt ratings remained on review for possible further downgrade. The principal methodologies used in rating BTA Bank, Temirbank and Alliance Bank are "Bank Financial Strength Ratings: Global Methodology" and "Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology", which can be found at www.moodys.com in the Credit Policy & Methodologies directory, in the Ratings Methodologies subdirectory. Other methodologies and factors that may have been considered in the process of rating these entities can also be found in the Credit Policy & Methodologies directory. London Reynold R. Leegerstee Managing Director Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 London Armen L. Dallakyan Asst Vice President - Analyst Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 [2009-08-03]