Moody's rates DBK program Ba3

Moody's Investors Service said it assigned a provisional Ba3 long-term local-currency debt rating to the 15 billion in Kazakhstani tenge domestic bond program of DBK Leasing.

The outlook on local-currency debt rating is stable.

Any subsequent senior debt issuance by the company will be rated at the same rating level subject to there being no material change in the bank's overall credit rating, Moody's said.

The rating is in line with the company's global local-currency issuer rating of Ba3.

The obligations under the senior unsecured bond issue will rank at all times at least pari passu with the claims of all other unsecured and unsubordinated creditors of the company, except for those claims that are preferred by any relevant law, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.