S&P: Ratings On Insurance Company Tsesna-Garant JSC Unaffected By Parent's CenterCredit Acquisition News

February 13, 2017 - Cbonds


S&P Global Ratings said today that its ratings on Kazakhstan-based Insurance Company Tsesna-Garant JSC (B+/Stable/--; 'kzBBB') are not affected by the announcement that its parent bank, Tsesnabank (B+/Negative/B; 'kzBBB-'), has been chosen as one of the preferred buyers for a 41.9% stake in Bank CenterCredit JSC (B/Stable/B; 'kzBB+'). The deal is subject to regulatory approval, which is expected to occur in the second quarter of 2017.
Issuer: Tsesna Garant
Outstanding issues:
Issuer rating:
S&P Global RatingsB+/StableForeign Currency LT07/24/2015
S&P Global RatingsB+/StableLocal Currency LT07/01/2016
S&P Global RatingskzBBB/LT National Scale (Kazakhstan)07/24/2015