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S&P trims VTB Bank
Standard & Poor’s said it lowered its long-term Kazakhstan national scale rating on VTB Bank (Kazakhstan) to kzA from kzA+.
At the same time, S&P affirmed the BB/B long- and short-term counterparty credit ratings on the bank. The outlook remains negative.
“The lowering of the national scale rating reflects our view that VTB Bank (Kazakhstan)’s asset quality is weakening,” S&P said in a news release.
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