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Fitch lifts BTA Bank bond
Fitch Ratings said it has upgraded BTA Bank's $750 million senior unsecured bond (ISIN: XS0867478124) to B from B- following the transfer of the obligation to BTA’s main shareholder, Kazkommertsbank (B/stable).
Fitch said it has also maintained the bank’s support-driven ratings on rating watch positive.
The senior unsecured bond rating is now aligned with the B rating on Kazkommertsbank’s other senior unsecured debt obligations. The bonds have a maturity date of Dec. 21m 2022 and bear a coupon rate of 5.5%.
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