Fitch: Development Bank of Kazakhstan notes BBB

Fitch Ratings said it assigned a long-term rating of BBB to the Development Bank of Kazakhstan's $1 billion medium-term notes.

The notes mature in December 2022, have a coupon rate of 4.125% payable semi-annually and have been issued for refinancing purposes. They will rank pari passu with the bank's senior unsecured obligations.

The bank's primary role is to foster development of the country's non-extracting sectors, Fitch said.

The National Welfare Fund Samruk Kazyna, which is wholly owned by the government of Kazakhstan, controls 100% of the bank's share capital, 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.