Article: S&P Assigns Counterparty Ratings of B+ to Kazkommertsbank

LONDON, Oct. 7 /PRNewswire/ -- Standard & Poor's has today assigned its single-'B'-plus long-term counterparty rating and its single-'B' short-term counterparty rating to JSC Kazkommertsbank (KKB). The outlook on the ratings is stable.

The ratings reflect the specific characteristics of the current operating environment for banks in Kazakhstan where the economy is recovering from a period of hyperinflation and severe recession that followed the disintegration of the old command economy. Kazak banks must operate in an environment where the legal system is new and untested; the economy remains in the throes of a payments crisis; the banking system is in a ...

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