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S&P lowers Alliance Bank
Standard & Poor's said it lowered its long-term counterparty credit rating on Alliance Bank JSC to CCC+ from B- and lowered the Kazakhstan national scale rating to kzB from kzBB- and affirmed the C short-term counterparty credit rating on the bank.
The outlook is stable.
S&P said the rating action reflects its view that the importance of Alliance Bank to the Kazakh government has decreased since the bank's default in 2009.
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