Moody's, S&P присвоили рейтинги бондам Халык-банка (Казахстан)

/REUTERS, Лондон, 20.09.04/ - Международные рейтинговые агентства Standard & Poor's и Moody's присвоили в понедельник рейтинги запланированным на сентябрь 2004 года необеспеченным облигаций с фиксированной ставкой, на сумму $200 миллионов, которые эмитирует казахстанский Халык-банк. Народный (Халык) банк - третий по величине в Казахстане S&P присвоило рейтинг "В+", соответствующий собственному рейтингу кредитной организации. Moody's присвоило рейтинг "Ваа2" со стабильным прогнозом. Рейтинг бондов от Moody's превышает потолок суверенного рейтинга Казахстана по облигациям ("Ваа3"). Агентство отмечает, что банк играет важную роль в экономике страны и высокую вероятность поддержки со стороны государства в случае необходимости. Лид-менеджеры выпуска - CSFB и JP Morgan сообщил, что Халык-банк начнет роуд-шоу дебютных еврооблигаций 23 сентября. Ниже приводиться оригинальный текст сообщения Moody's на английском языке. MOODY'S ASSIGNS BAA2 RATING TO HALYK BANK'S (KAZAKHSTAN) UPCOMING EUROBOND ISSUE Limassol, September 20, 2004 - Moody's Investors Service has assigned a rating of Baa2 (stable outlook) to the upcoming US$200 million issue of senior unsecured notes by Halyk Bank (Kazakhstan). The rating of the senior unsecured bond issue has pierced Kazakhstan's sovereign ceiling of Baa3 for bonds; the level of the rating reflects the important role the bank plays in the country's economy. Moody's notes that the likelihood of Halyk Bank receiving support from the government in case of distress is very high and is the primary driver of the bank's senior bond rating. The rating also takes into account the fact that Halyk Bank is the third-largest bank in Kazakhstan, maintaining very strong positions in the Kazakhstani banking market, with a particular focus on retail and small and medium-sized companies (SMEs). Halyk Bank is headquartered in Almaty, Kazakhstan and had total IAS- consolidated assets of KZT288.7 billion (US$2.1 billion) as of 30 June 2004. Ниже приводиться оригинальный текст сообщения S&P на английском языке. HALYK SAVINGS BANK OF KAZAKHSTAN'S PROPOSED DOLLAR-DENOMINATED EUROBOND RATED "B+" LONDON (Standard & Poor's) Sept. 20, 2004 - Standard & Poor's Ratings Services said today it assigned its "B+" debt rating to a five-to-seven year, U.S. dollar-denominated fixed-rate bond to be issued by Halyk Savings Bank of Kazakhstan (Halyk; B+/Positive/B) in September 2004. The ratings on Halyk reflect the bank's consistent progress in strengthening its financial and business profile since its privatization in 2002, although still slightly lagging its larger peers. The bank has also improved its efficiency and core revenue generation, and has introduced customer segmentation. The ratings are supported by the bank's dominant position in retail banking, ample liquidity from customer deposits, and its systemic importance as the former state savings bank. The ratings are constrained by the still-high-risk economic environment in Kazakhstan, fast loan growth, and just-adequate capitalization. Halyk's asset quality has improved considerably following its privatization, with the writing off of problematic legacy loans and the granting of better quality new loans, which has also reduced loan concentrations. Prudent levels of provisions set aside for potential adverse developments in asset quality somewhat mitigate Standard & Poor's concerns over the still-concentrated portfolio, risky economic environment, and still-high proportion of U.S. dollar-denominated (or indexed) loans. Halyk's historic nature as a savings bank gives it strong liquidity. Its extensive branch network and client base result in stable retail deposits remaining its most important source of funding. Halyk's profitability has increased dramatically in the past two years with improved efficiency and core revenue flows. Capitalization has been improving, buoyed by the full retention of earnings and new capital injections. Standard & Poor's considers Halyk's capitalization as just adequate, however, given its balance-sheet growth and due to the risky environment in which the bank operates. [2004-09-20]