S&P: Kazakhstan-Based Delta Bank Downgraded To 'CC' On Increased Probability Of Bond Nonpayment; Remains On Watch Negative

February 03, 2017 - Cbonds


S&P Global Ratings said today that it has lowered its long-term counterparty credit rating on Kazakhstan-based Delta Bank JSC and its ratings on the bank's senior unsecured debt issues to 'CC' from 'CCC-'. We reinstated our 'CCC-' rating on the KZT10 billion 9.5% bond due Jan. 18, 2017, which was inadvertently withdrawn on the maturity date, before lowering it to 'CC'.

The 'C' short-term counterparty credit rating on Delta Bank was affirmed.
Issuer: Delta bank
Issuer profile:
Delta Bank is the first Ukrainian specialized bank focused on consumer lending. Delta Bank occupies more than 20% market of the consumer crediting of Ukraine.

Due to the combination of p... more
Outstanding issues:
Issuer rating:
IBI-RatingWithdrawn/National Scale Rating06/19/2014