S&P: Kazakhstan-Based KazInvestBank Downgraded To 'D' On License Revocation

December 28, 2016 - Cbonds

 

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.
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Issuer: Kazinvestbank
Issuer profile:
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... more
Outstanding issues:
1 issuesKZT7,500,000,000
Issuer rating:
Moody's Investors ServiceWithdrawn/LT- foreign currency03/10/2016
Moody's Investors ServiceWithdrawn/LT- local currency03/10/2016
S&P Global RatingsNR/Foreign Currency LT02/17/2017
S&P Global RatingsNR/Local Currency LT02/17/2017
S&P Global RatingsNR/LT National Scale (Kazakhstan)02/17/2017