Almaty: BTA is assigned Fitch's Long-term Local currency BB+09.09.2005 / Anvar Khaltayev, Executive Director
Hereby Bank TuranAlem would like to announce that on September 9, 2005 it has been assigned the Long-term Local Currency rating by Fitch Ratings, the international rating agency of BB+.
The Long-term Local Currency rating is one notch higher than the Long-term Foreign Currency rating, which is BB.
The official information released by Fitch Ratings says that BTA's Long-term Local Currency rating reflects what Fitch views as moderate probability of support from the Kazakh authorities on the Bank's local currency obligations.
The other BTA ratings that have been assigned to the Bank by Fitch Ratings on June 10, 2005 are as follows:
|Long-term Foreign Currency||BB|
The following issues of Notes, issued by Turan Alem Finance B.V. and guaranteed by BTA are rated as BB.
- U.S. $100 mm Notes due May 29, 2007;
- U.S. $600 mm Notes due June 2, 2010;
- U.S. $400 mm Notes due March 24, 2014;
- U.S. $350 mm Notes due February 10, 2015.
Fitch Ratings, the international rating agency, has more than 11-year experience of working with the CIS issuers. In Kazakh market, Fitch Ratings is well represented for more than seven years now. Rating definitions are available on the agency’s public web-sites,www.fitchratings.com and/or www.fitchratings.ru.
Bank TuranAlem is a leading commercial bank in Kazakhstan and establishes its banking network throughout the CIS. Currently, BTA assets exceed U.S. $5.2 bn, total equity exceeds U.S. $600 mm. The largest world development institutions are amongst the shareholders of BTA (EBRD, FMO, IFC and RZB). Bank TuranAlem has a major presence in trade finance, SME financing and mortgage lending.
Contact Person: Anvar Khaltayev, Executive Director, tel.: +7 (3272) 505 135, fax: +7 (3272) 500 224, email@example.com