Fitch: Development Bank of Kazakhstan to positive

Fitch Ratings said it revised the outlook on Development Bank of Kazakhstan to positive from stable.

The agency also said it affirmed the bank's long-term foreign-currency issuer default rating at BBB-, long-term local-currency issuer default rating at BBB and long-term issuer default rating at BB.

Also affirmed includes its short-term local-currency issuer default rating at F3 and senior unsecured long-term rating at BBB-.

The actions follow the upgrade of Kazakhstan's ratings, Fitch said.

The bank's ratings reflect the very strong propensity of the Kazakh authorities to provide support in case of need, the agency said.

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