S&P: Kazakhstan-Based Delta Bank Downgraded To 'CC' On Increased Probability Of Bond Nonpayment; Remains On Watch Negative
February 3, 2017
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 We reinstated our 'CCC-' rating on the KZT10 billion 9.5% bond due Jan. 18, 2017, which was inadvertently withdrawn on the maturity date, before lowering it to 'CC'.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.
Company — Delta bank
Full namePublic Company Delta Bank