Fitch присвоило рейтинг "ВВ" ожидаемым еврооблигациям Казкоммерцбанка

/REUTERS, Лондон, 31.03.04/ - Международное рейтинговое агентство Fitch Ratings присвоило рейтинг "ВВ" планируемому выпуску еврооблигаций крупнейшего в Казахстане Казкоммерцбанка и рейтинг "ВВ-" нотам участия в субординированном кредите банку, сообщило Fitch. Рейтинги являются предварительными, а окончательную оценку Fitch даст после получения полной информации о выпусках. Долгосрочный рейтинг Казкоммерцбанка находится на уровне "ВВ". Десятилетние ноты участия в кредите будет выпускать Citigroup Global Markets Deutschland. Ниже приводиться оригинальный текст сообщения Fitch на английском языке. FITCH ASSIGNS EXPECTED 'BB' RATING TO KAZKOMMERTSBANK'S SENIOR NOTES Fitch Ratings-London-31 March 2004: Fitch Ratings, the international rating agency, has today assigned Kazkommerts International B.V.'s forthcoming senior notes an expected Long-term 'BB' rating. The notes are to be guaranteed by JSC Kazkommertsbank ("KKB"). The rating is in line with KKB's Long-term 'BB' rating. Fitch has also assigned an expected Long-term 'BB-' (BB minus) rating to the forthcoming subordinated loan participation notes due 2014 to be issued by Citigroup Global Markets Deutschland ("Citigroup") for the purpose of financing a subordinated loan to KKB. The ratings are contingent upon receipt of final documents conforming materially to information already received and the final ratings will be confirmed at that time. For the senior notes, the noteholder's claims will rank at least pari passu with the claims of all other unsecured and unsubordinated creditors of KKB, except as otherwise provided for by law. In addition there is a cross default clause and a negative pledge clause, although securitisation of loans up to a total of 15% of KKB's gross loans is permitted. Were such a deal to be undertaken, Fitch comments that the nature and the extent of any over-collateralisation would be assessed by the agency for any potential impact on unsecured creditors. There are also other covenants, which, among other factors, limit distributions by KKB and transactions that are not made at fair market value. In the case of the subordinated notes, Citigroup has no obligation to the noteholders other than to account for all amounts received, if any, from KKB under the loan agreement. The agreement between Citigroup and KKB contains a covenant that the lender's claims will rank at least pari passu with the claims of all other unsecured and subordinated creditors of KKB, except as otherwise provided for by law. KKB is the largest Kazakhstani bank by assets, with total assets of USD3 billion at end-2003. It has historically focused on large corporates, but SME and retail banking now account for a significant part of its balance sheet. In June 2003, the European Bank for Reconstruction and Development acquired a 15% stake in KKB. KKB's other ratings are Short-term 'B', Individual 'C/D' and Support '3'. Contact: Alexander Giles, London, Tel: +44 (0) 20 7417 6330; Philip Smith, London, Tel: +44 (0) 20 7417 4340. [2004-03-31]