BTA Bank Comments on Change of Its Rating by Fitch Ratings20.01.2012
January 20, 2012, Almaty – BTA Bank JSC (hereinafter the Bank) kindly advises that recent change of its both long-term and short-term rating by Fitch Ratings is a regular action resulted from initiation of the restructuring of certain part of the financial indebtedness including interest repayment under Eurobonds.
The Bank still adheres to the position that issue on January coupon payment cannot be considered out of the proposed restructuring context.
Restructuring is a required measure which if taken immediately will enable further functioning of the bank as a going concern and potentially restore its positions in the market.
Besides, BTA Bank JSC places special emphasis that currently it performs all regulatory requirements of the Committee for Control and Supervision of the Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan.
The Bank kindly reminds that it is performing and will be performing its liabilities to the depositors and restructuring process will not in any way affect current operational activities of the Bank. Transactions under deposits, loans, money transfers of natural persons and legal entities as well as payment card transactions will be serviced in the ordinary course.