Article: S&P rates Kazkommerts senior unsecured debt 'BB+'.

S&P rates Kazkommerts senior unsecured debt 'BB+'

LONDON. March 16 (Interfax) - Standard & Poor's Ratings Services assigned an indicative 'BB+' debt rating to proposed senior unsecured notes issued by Kazkommerts International B.V., a Dutch special purpose vehicle, the ratings agency said in a press release.

These notes will be issued from the Kazkommerts International $1.5 billion senior unsecured note program, which is unconditionally and irrevocably guaranteed by Kazakhstan-based Kazkommertsbank (KKB; BB+ /Stable/B). The issue size is 300 million euros, with a five-year maturity and coupon of 5.125%.

The ratings on KKB reflect the rapid ...

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