Moody's повысило долгосрочные депозитные рейтинги АО "БТА Банк" (Казахстан) до уровня B3

/Moody's Investors Service, Лондон, 24.05.11, перевод и заголовок KASE/ - Рейтинговое агентство Moody's Investors Service сегодня повысило долгосрочный депозитный рейтинг БТА Банка в местной и иностранной валюте с Caa3 до B3. Рейтинг финансовой устойчивости банка - Caa2 на долгосрочной рейтинговой шкале - был подтвержден. Одновременно, старшим необеспеченным облигациям, деноминированным в иностранной валюте, и субординированным облигациям, выпущенным в ходе реструктуризации, был присвоен долгосрочный долговой рейтинг - Caa2 и Caa3, соответственно. Прогноз по BFSR банка - стабильный. Прогноз по долгосрочным долговым и депозитным рейтингам - развивающийся. Ниже приводится оригинальный текст сообщения Moody's на английском языке. London, 24 May 2011 - Moody's Investors Service has today upgraded the long-term local and foreign currency deposit ratings of BTA Bank to B3 from Caa3. The bank's E bank financial strength rating (BFSR), which maps to Caa2 on the long-term rating scale has been confirmed. Concurrently, the bank's foreign currency senior unsecured and subordinated notes issued in the course of the restructuring have been assigned long-term debt ratings of Caa2 and Caa3, respectively. The bank's BFSR carries a stable outlook. The outlook on the bank's long-term debt and deposit ratings is developing. RATINGS RATIONALE This rating action concludes the review of BTA Bank's ratings initiated by Moody's on 30 September 2010. The upgrade of the bank's debt ratings was triggered by the completion of BTA Bank's debt restructuring that facilitated recapitalisation of the bank by over USD11 billion, thus enabling it to (i) report shareholder's equity of USD2.36 billion (in accordance with local accounting standards) at year-end 2010, and (ii) meet the regulatory minimal capital adequacy requirements. At the same time, BTA Bank continues to operate with an IFRS capital deficit of USD708 million at year-end 2010, while its income from the core banking operations currently does not fully cover operating expenses, thereby constraining the bank's BFSR at E. Moody's notes that BTA Bank is currently controlled by the Kazakhstan government through the Sovereign Wealth Fund Samruk-Kazyna, and the latter has supported the bank (in terms of capital and liquidity) amid the global financial crisis. Therefore Moody's assessment incorporates a moderate probability that systemic support would be extended to the bank's depositors in case of need. As a result the bank's long-term B3 deposit ratings currently benefit from a two-notch uplift from the bank's stand-alone rating of Caa2. Moody's, however does not imply any systemic support in the bank's debt ratings. Consequently BTA Bank's senior unsecured debt rating is in line with its stand-alone rating of Caa2. The Caa3 debt rating assigned to the bank's subordinated debt is one notch below the Caa2 senior unsecured ratings assigned to the bank's senior unsecured debt, and reflects subordination of claims. Developing outlook assigned to the bank's debt and deposit ratings reflects the possibility of both upwards and downwards rating movements over the next 12 to 18 months. According to Moody's, BTA Bank's ratings may be upgraded if the bank restores its capital base and substantially improves operating efficiency. Conversely, if the bank fails to improve its operating efficiency and capital position within the next 12 to 18 months and reports recurring loss for a prolonged period of time, the ratings could be downgraded. Moody's has assigned the following debt ratings to BTA Bank's notes issued in the course of the restructuring: - Caa2 senior unsecured foreign currency debt rating: U.S.$2,082,371,783 Senior Notes due 2018 - Caa2 senior unsecured foreign currency debt rating: U.S.$384,848,130 Discount Dollar Notes due 2021 - Caa2 senior unsecured foreign currency debt rating: EUR437,110,856 Discount Euro Notes due 2021 - Caa3 subordinated foreign currency debt rating: U.S.$496,631,368 Subordinated Notes due 2025 - Caa3 subordinated foreign currency debt rating: EUR28,237,359 Subordinated Notes due 2025 Please see ratings tab on the issuer/entity page on Moodys.com for the last rating action and the rating history. 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, BTA Bank reported total assets of US$12.85 billion and total capital deficit of US$708 million, in accordance with its audited IFRS financial statements at year-end 2010. REGULATORY DISCLOSURES Information sources used to prepare the credit rating are the following: parties involved in the ratings, 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 [2011-05-25]