S&P ups Eurasian Development Bank rating

S&P said it raised its long-term national scale ratings on Eurasian Development Bank to kzAAA from kzAA.

The agency previously placed the rating under criteria observation after the revision of its criteria on national scale ratings and subsequent recalibration of the mapping table for Kazakhstan.

“The rating change is purely a result of the revisions to the criteria and mapping table, which were intended to create the most appropriate distinction among ratings on the national scale, and do not represent a change in our view of the credit quality of the issuer,” S&P said in a news release.

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