Moody's присвоило рейтинг "Baa3" международным облигациям XS0570541317, US25159XAA19 (BRKZe6) АО "Банк Развития Казахстана"

/Moody's Investors Service, Москва, 20.12.10, перевод и заголовок KASE/ - Сегодня рейтинговое агентство Moody's Investors Service присвоило долгосрочный рейтинг долговых обязательств в иностранной валюте "Baa3" приоритетным необеспеченным еврооблигациям госбанка развития Казахстана (БРК) на $500 млн. Прогноз рейтинга - "стабильный". Присвоенный рейтинг соответствует глобальным рейтингам эмитента в иностранной валюте "Baa3". Как сообщалось, в начале декабря БРК разместил 5-летние еврооблигации на $500 млн. Размещение данного выпуска еврооблигаций состоялось по правилу Reg S/144A в рамках программы по выпуску среднесрочных нот на общую сумму $2 млрд. Ниже приводится оригинальный текст сообщения Moody's на английском языке. Moscow, December 20, 2010 - Moody's Investors Service has today assigned a Baa3 long-term foreign-currency debt rating to the foreign - currency - denominated senior unsecured bonds issued by Development Bank of Kazakhstan (DBK) under its USD2 billion EMTN programme. The rating assigned by Moody's is in line with DBK's global foreign-currency issuer rating of Baa3. The outlook is stable on the foreign - currency debt rating. RATINGS RATIONALE DBK's senior unsecured issuance is a USD500 million five-year bond, with a fixed 5.5 % semi-annual interest rate. Moody's notes that the obligations of DBK to make payments under this bond will rank - at all times - at least pari passu with the claims of all other unsecured and unsubordinated creditors of DBK, except for those claims that are preferred by any relevant law. DBK's Baseline Credit Assessment of 11 - 13 (BCA, on a scale of 1 to 21, where 1 represents lowest credit risk) is constrained by high single-name credit- risk concentration and significant dependence on wholesale funding. However, the standalone rating is underpinned by sufficient current liquidity and a relatively high capital level. DBK's Baa3 global long-term issuer rating incorporates (i) a BCA of between 11 - 13 (on a scale of 1 to 21, where 1 represents the lowest credit risk); (ii) the Baa2 local-currency issuer rating of Kazakhstan; and (iii) Moody's assessment of the very high probability of systemic support for the bank. At the same time, the rating incorporates very high interdependence between the default probabilities of both DBK and the Kazakhstan government. This is because, if the government defaults, DBK would be negatively affected on both its asset and the liability sides. The principal methodology used in this rating was Government-Related Issuers: Methodology Update published in July 2010. Moody's previous rating action on DBK was implemented on 4 May 2010, when the rating agency downgraded the issuer's long-term foreign-currency issuer and debt ratings to Baa3 from Baa2. Headquartered in Astana, Kazakhstan, DBK reported total assets of KZT 850 billion (USD 5.7 billion) and total equity of KZT 269 billion (USD 1.8 billion) under audited IFRS as at YE2009. REGULATORY DISCLOSURES Information sources used to prepare the credit rating are the following: parties involved in the ratings, parties not involved in the ratings, public information, and confidential and proprietary Moody's Investors Service information. Moody's Investors Service considers the quality of information available on the issuer or obligation satisfactory for the purposes of assigning a credit rating. Moody's adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources Moody's considers to be reliable including, when appropriate, independent third-party sources. However, Moody's is not an auditor and cannot in every instance independently verify or validate information received in the rating process. Please see ratings tab on the issuer/entity page on Moodys.com for the last rating action and the rating history. The date on which some Credit Ratings were first released goes back to a time before Moody's Investors Service's Credit Ratings were fully digitized and accurate data may not be available. Consequently, Moody's Investors Service provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information. Please see the Credit Policy page on Moodys.com for the methodologies used in determining ratings, further information on the meaning of each rating category and the definition of default and recovery. Moscow Maxim Bogdashkin Asst Vice President - Analyst Financial Institutions Group Moody's Eastern Europe LLC Telephone: +7 495 228 6060 Facsimile: +7 495 228 6091 London Yves Lemay MD - Banking Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 [2010-12-21]