USD/KZT 375.9  +1.7
EUR/KZT 423.56  +3.22
NEWS ARCHIVE
NEWS

Fitch Ratings-London/Moscow-24 April 2009: Fitch Ratings has today downgraded Kazakhstan-based BTA Banks Long-term Issuer Default Ratings (IDR) to 'RD' (Restricted Default) from 'CC', thereby resolving the Watch Negative (RWN) on the rating. The downgrade follows BTA's announcement yesterday that it has decided to cease principal payments on wholesale financial obligations until it agrees and implements a restructuring of these obligations. The bank's IDRs will remain on 'RD' until BTA has completed the expected restructuring of its outstanding debt and, in Fitch's opinion, is able to comply with new terms negotiated with its creditors. Rating actions are as follows: Long-term foreign and local currency IDRs downgraded to 'RD' from 'CC'; removed from RWN Short-term foreign and local currency IDRs downgraded to 'RD' from 'C'; removed from RWN Individual rating affirmed at 'F' Support rating affirmed at '5' Support Rating Floor affirmed at 'No Floor' Senior unsecured debt downgraded to Long-term 'C' from 'CC'; removed from RWN; Recovery Rating at 'RR4' Senior unsecured debt affirmed at Short-term 'C'; Tier 1 perpetual preferred securities: affirmed at Long-term 'C'; removed from RWN; Recovery Rating at 'RR6'


Resourse: Fitch Ratings







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