BTA Bank's long-term and short-term issuer default ratings (IDR) in national and foreign currency were recently upgraded by international rating agency Fitch Ratings.
The Kazakh bank's long-term IDRs for national and foreign currency were upgraded to "B-" with a "CCC" positive outlook, while short-term IDRs in national and foreign currency were upgraded from "C" to "B" and removed from the "Rating Watch" list.
Additionally, Fitch upgraded the rating on BTA Bank's senior unsecured debt securities to "B-/RR4" from "CCC" with a positive outlook.
Fitch affirmed the bank's "CCC" individual rating as a result of the removal from the Rating Watch list, while its support rating was affirmed at "5," placing the bank on "Rating Watch Positive." The bank's support rating floor was affirmed at "NF" and withdrawn.
The upgrade to the bank's IDRs and debt ratings comes after the acquisition of a 46.5 percent state of BTA Bank by Kazkommertsbank.
- National Bank of Ukraine removes restrictions on foreign-currency transactions, investment metals
- Black Sea Trade & Development Bank visits Azerbaijan to boost business relationships
- VTB Bank finances three new planes for SunExpress airline
- National Bank of Ukraine makes it easier for businesses to invest abroad
- National Bank of Ukraine eases lending regulations for deposit guarantee funds to other banks
- Black Sea Trade and Development Bank, Russian Federal Corp. for SMEs support business growth
- Oleg Demidov named commercial director for Rosbank Factoring
- Eurasian Development Bank sells bonds on Kazakhstan Stock Exchange
- EY World Entrepreneur of the Year event to name world's top entrepreneur
- ACBA-CREDIT AGRICOLE, Microsoft parter for Armenian digital business technology seminar