Moody's rates TuranAlem notes Baa2

Moody's Investors Service said it assigned a Baa2 foreign-currency debt rating to the upcoming drawdown of fixed-rate senior unsecured notes under TuranAlem Finance BV's $3 billion global medium-term note program, which is unconditionally and irrevocably guaranteed by Kazakhstan-based JSC Bank TuranAlem. The outlook is stable.

The amount of the drawdown is yet to be determined, depending on market conditions, with a target maturity of seven years, the agency said.

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