S&P revises outlooks for four Uzbek banks

S&P said it revised its outlooks on National Bank For Foreign Economic Activity Of The Republic Of Uzbekistan, Uzpromstroybank, Ipoteka Bank JSCM and KDB Bank Uzbekistan to negative from stable.

At the same time, S&P affirmed its ratings, including the BB- long-term issuer credit rating, on each bank

The revisions mirror the similar rating action on Uzbekistan and reflect the negative effect the potential deterioration of the sovereign's creditworthiness can have on the banks' credit profile, S&P said.

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