BTA Bank Upgraded to 'B-' on Completion of Restructuring; Outlook Stable10.12.2010
BTA Bank JSC (the "Bank") is pleased to announce that on December, 10 2010 Fitch Ratings raised its long-term foreign currency Issuer Default Ratings (IDRs) 'B-' with Stable Outlooks.
Short-term national and foreign currency IDR: upgraded to 'B' from 'RD', Individual Rating: upgraded to 'E' from 'F', Support Rating: affirmed at '5'.
The rating actions follow the completion of the restructuring of BTA Bank's liabilities in September 2010. The ratings also account for the very long-term nature of its current funding structure and support provided to the bank by its majority shareholder National Welfare Fund Samruk-Kazyna.