Moody's присвоило рейтинг B2 международным облигациям XS0625516157, US48668AAA79 (KKGBe23) АО "Казкоммерцбанк" (Казахстан)

/Moody's Investors Service, Лондон, 17.05.11, перевод и заголовок KASE/ - Рейтинговое агентство Moody's Investors Service присвоило сегодня старший необеспеченный долговой рейтинг (P)B2 программе Казкоммерцбанка по выпуску среднесрочных нот на сумму 2 миллиарда долл. США. В то же самое время Moody's присвоило долгосрочный старший необеспеченный долговой рейтинг в иностранной валюте B2 первому выпуску облигаций на сумму 300 миллионов долл. США. Срок обращений облигаций - семь лет. Прогноз по программе и выпущенным старшим необеспеченным облигациям - негативный, что соответствует негативному прогнозу по долговым рейтингам Банка. Ниже приводится оригинальный текст сообщения Moody's на английском языке. London, 17 May 2011 - Moody's Investors Service has today assigned (P)B2 senior unsecured debt rating to Kazkommertsbank's USD2 billion medium-term notes programme. At the same time, Moody's assigned a B2 long-term foreign-currency senior unsecured debt rating to the first drawdown of USD300 million. The notes have a seven-year maturity. The outlook on the programme and the issued senior unsecured notes is negative, in line with the negative outlook on the bank's debt ratings. RATINGS RATIONALE Moody's says that the B2 rating assigned to the notes is based on the fundamental credit quality of Kazkommertsbank, reflected by its E+ bank financial strength rating (BFSR), mapping to B2 on the long-term rating scale. Moody's assumes no systemic support probability for the bank's debt ratings and consequently there is no notching uplift for the ratings on the senior unsecured notes. The bank's BFSR is constrained by the risks associated with its weak asset quality, stemming from the difficult economic conditions in Kazakhstan and exacerbated by the high borrower and industry concentrations in the bank's loan portfolio. However, the rating is underpinned by its leading market position as the largest bank in Kazakhstan in terms of total assets and deposits. According to the terms and conditions of the notes, Kazkommertsbank must comply with several covenants, including negative-pledge covenants, limitations on mergers, disposals and dividend payments. Moody's most recent rating action on Kazkommertsbank was implemented on 21 October 2010 when the bank's foreign-currency senior unsecured debt rating was downgraded to B2 from Ba3 and foreign-currency subordinated debt rating was downgraded to B3 from B1. The principal methodologies used in this rating were Bank Financial Strength Ratings: Global Methodology published in February 2007, and Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology published in March 2007. Headquartered in Almaty, Kazakhstan, Kazkommertsbank reported total consolidated assets and total capital of USD18.2 billion and USD2.8 billion, respectively, in accordance with IFRS, as of year-end 2010. REGULATORY DISCLOSURES Information sources used to prepare the credit rating are the following: parties involved in the ratings, and public information. Moody's Investors Service considers the quality of information available on the issuer or obligation satisfactory for the purposes of maintaining a credit rating. The rating has been disclosed to the rated entity or its designated agents and issued with no amendment resulting from that disclosure. Moody's Investors Service may have provided Ancillary or Other Permissible Service(s) to the rated entity or its related third parties within the three years preceding the Credit Rating Action. Please see the ratings disclosure page www.moodys.com/disclosures on our website for further information. 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. 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 London Yves Lemay MD - Banking Financial Institutions Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Moody's Investors Service Ltd. One Canada Square Canary Wharf London E14 5FA United Kingdom JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 [2011-05-18]