BTA Bank Upgraded to 'B-/C' on Completion of Restructuring; Outlook Stable; Assigned 'KZBB-' Rating27.10.2010
BTA Bank JSC (the "Bank") is pleased to announce that on October, 26 2010 Standard & Poor's Ratings Services raised its long-term counterparty credit ratings to 'B-' from 'D' and its short-term counterparty credit ratings to 'C' from 'D'. The outlook is stable. At the same time, Kazakhstan national scale rating was assigned a 'kzBB-'.
"The upgrade reflects the improvement of BTA's stand-alone credit profile resulting from the completion of the restructuring of its wholesale debt, as well as our incorporation in our assessment of the stand-alone credit profile of ongoing financial support from the Kazakh government," said Standard & Poor's credit analyst Ekaterina Trofimova.