S&P Global Ratings today lowered its long- and short-term counterparty credit ratings on Kazakhstan-based
KazInvestBank to 'D/D' from 'B-/C'. We also lowered our Kazakhstan national scale rating on the bank to 'D' from 'kzB+'.
At the same time, we lowered our ratings on KazInvestBank's rated senior unsecured and subordinated bonds to 'D' from 'B-' and 'CCC' respectively.
KazInvestBank (formerly KazInterBank) was established in 1993 as an investment bank. KIB provided primarily investment banking services, connected with bringing investments to Kazakhstan, and assiste...