S&P присвоило рейтинг "B" бумагам Казкоммерцбанка на $100 млн

/REUTERS, Лондон, 24.03.04/ - Международное рейтинговое агентство Standard & Poor's присвоило рейтинг "B" выпуску приоретных сертификатов участия в кредите, которые будут выпущены Citigroup Global Markets Deutschland AG & Co. KgaA для финансирования кредита Казкоммерцбанка на $100 миллионов. "Рейтинг отражает сильное положение банка в Казахстане, улучшение экономической ситуации и структуру финансирования. Банк успешно использует сложившуюся в Казахстане экономическую ситуацию, привлекая первоклассные средства, и наращивает прибыльный кредитный бизнес, хотя увеличение кредитов в ближайшие годы несет в себе риск", - говорится в сообщении агентства. Ниже приводиться оригинальный текст сообщения Standard & Poor's на английском языке. LONDON, March 24 - Standard & Poor's Ratings Services said today it assigned its 'B' debt rating to the $100 million Subordinated Loan Participation Notes issued on a limited recourse basis by Citigroup Global Markets Deutschland AG & Co. KgaA (CGMD). The Subordinated Loan Participation Notes will be issued for the purpose of financing a subordinated loan to Kazakhstan-based Kazkommertsbank (JSC) (KKB; BB-/Stable/B). The rights and interests of CGMD as lender to KKB will be charged to a trustee for the benefit of the noteholders under a trust deed. The issue matures in 2014, but is callable after five years, subject to certain conditions, with a coupon step-up at the call date. The credit risk of the Subordinated Loan Participation Notes wholly reflects the creditworthiness of KKB and the subordinated status of the Loan Participation Notes. The ratings on KKB reflect the bank's strong domestic franchise and improving economic environment and funding profile. KKB has been using Kazakhstan's improved economic prospects to its advantage, attracting primary funds and growing its profitable lending business, although fast loan growth in recent years is considered risky. The decision of the European Bank for Reconstruction and Development (EBRD; AAA/Stable/A-1+) to invest into the equity of KKB, as well as the reversal of the bank's policy on financing the equity investments of its sister company, Central Asian Industrial Investments (CAII), have improved KKB's credit profile. KKB also resolved its largest problematic related party loans, which reduced the concentration of its loan portfolio to single-party risk, as well as improving asset quality. Although the Kazakh economy has been showing positive trends since 2000, the bank retains significant concentrations in loans and funding in a high-risk economic and banking environment. Its prudent practice of taking significant loan- loss provisions and collateral for potential problems stemming from the high loan growth, mitigates risks. [2004-03-24]