Moody's may lower Development Bank of Kazakhstan

Moody's Investors Service said it placed the Baa2 long-term local and foreign-currency issuer ratings of Development Bank of Kazakhstan on review for possible downgrade.

Concurrently, the bank's Baa2 senior unsecured debt rating, (P)Baa2 senior unsecured MTN and (P)Baa3 subordinate MTN program ratings were also placed on review for possible downgrade.

The issuer outlook was changed to ratings under review from stable.

“Today's rating action reflects the uncertainty regarding external support probability for DBK channeled by the Government of Kazakhstan (Baa2 stable) through Baiterek National Management Holding, JSC (Baiterek, Baa2 stable) following the recent announcement made by the president of Kazakhstan amid the social unrest in the country,” Moody’s said in a news release.

© 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.