Moody's снизило рейтинговые оценки АО Дочерний Банк "Альфа-Банк" (Казахстан), прогноз "Стабильный"

/Moody's Investors Service, Москва, 09.03.10, перевод и заголовок KASE/ - Международное рейтинговое агентство Moody's Investors Service понизило рейтинги банковских депозитов в национальной и иностранной валюте АО Дочерний Банк "Альфа-Банк" (Казахстан) с уровня "Bа3" до уровня "B2". Рейтинг финансовой устойчивости банка (РФУ) "E+", который теперь совпадает с базовой оценкой кредитоспособности уровня "B2", был подтвержден. Прогнозы по долгосрочным рейтингам и рейтингу финансовой устойчивости АО Дочерний Банк "Альфа-Банк" стабильные. Снижение депозитных рейтингов АО Дочерний Банк "Альфа-Банк" до уровня "B2" отражает: (1) переоценку вероятности поддержки со стороны материнской компании, ранее включавшуюся в банковские рейтинги, (2) скромную долю АО Дочерний Банк "Альфа-Банк" на рынке Казахстана, с неопределенными возможностями усилить свои позиции, сохраняя коэффициенты адекватности капитала и ликвидность на настоящем уровне и (3) слабую рентабельность АО Дочерний Банк "Альфа-Банк". Ниже приводится оригинальный текст сообщения Moody's на английском языке. Moody's downgrades Alfa-Bank Kazakhstan to B2 from Ba3, stable outlook Moscow, March 09, 2010 - Moody's Investors Service today downgraded Alfa-Bank Kazakhstan's (ABK) local and foreign currency bank deposit ratings to B2 from Ba3. The bank's bank financial strength rating (BFSR) of E+, which now maps to a baseline credit assessment (BCA) of B2, was affirmed. The outlook on the bank's long-term ratings and BFSR is stable. The downgrade of ABK's deposit ratings to B2 reflects: (1) Moody's reassessment of probability of parental support previously incorporated into the bank's ratings, (2) ABK's modest franchise in Kazakhstan, with uncertain opportunities to strengthen it preserving the capital adequacy and liquidity at present level and (3) the bank's weak core profitability. Moody's reassessment of parental support probability was prompted by the change in the ABK's beneficiary owner from Russian Alfa-Bank (ABR, rated Ba1/Not-Prime/D, with Negative outlook) to Alfa Group's holding company ABH Holdings Corp. (ABHH) as a result of a 5-year call option agreement on 100% shares of ABK signed between ABR and ABHH in 2009. According to the call option, all potential voting rights and economic benefits relating to ABK were transferred from ABR, still legally regarded as ABK's sole parent, to ABHH. As a result, ABR no longer consolidates ABK. The reassessment of parental support also takes into account a precedent of a negative track record of support from ABR to its sister bank Alfa Bank Ukraine (ABU) in June 2009. At that time, ABU executed a distressed exchange of its Eurobonds and neither ABR nor other Alfa Group operating companies extended their support to ABU, on grounds that as it was not their direct subsidiary. Despite the currently high liquidity and capital cushions, ABK's standalone credit strength is constrained by its weak domestic franchise value, with narrow client base, high concentration on the largest credit exposures and weak profitability. While the bank's strategy is to expand its business, Moody's believes the major constraining factors are likely to be maintained in 2010. Moody's previous rating action on ABK was implemented on 24 February 2009 when its local and foreign currency deposit ratings were confirmed at Ba3 and the outlook on all long-term ratings was changed to negative from stable. The principal methodology used in rating ABK 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 Rating Methodologies sub-directory under the Research & Ratings tab.Other methodologies and factors that may have been considered in the process of rating Alfa Bank Kazakhstan can also be found in the Rating Methodologies sub-directory on Moody's website. Alfa-Bank Kazakhstan (Kazakhstan) is headquartered in Almaty and reported total assets of US$246 million and total equity of US$63 million, according to the company's audited consolidated statements as of YE2008. London Yves Lemay Managing Director Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Moscow Maxim Bogdashkin Analyst Financial Institutions Group Moody's Eastern Europe LLC Telephone: +7 495 228 6060 Facsimile: +7 495 228 6091 [2010-03-10]