January 2, 2013 / 9:21 AM / 5 years ago

TEXT-Fitch assigns Kazakhstan's Sberbank forthcoming series 2 bonds 'BBB-(EXP)' expected rtg

(The following statement was released by the rating agency)

Jan 02 - Fitch Ratings has assigned Kazakhstan-based Subsidiary Bank Sberbank of Russia ’s (SBK) KZT20bn senior unsecured bonds an expected Long-term local currency rating of ‘BBB-(EXP)’ and expected National Long-term rating of ‘AA(kaz)(EXP)'.

The issue of KZT20bn Series 2 notes in the framework of the second KZT100bn note programme is anticipated in Q113. The bonds would carry a fixed semi-annual coupon of 6.25% and would mature in five years from the issuance date.

Kazakhstan’s SBK, formerly Texakabank, was established in 1993 and was acquired by the Russia-based Sberbank (‘BBB’/Stable) in 2007. Sberbank currently owns 100% of SBK. At end-11M12, SBK had a 5% market share of the Kazakh banking system’s assets.

The bank has a Long-term local currency Issuer Default Rating of ‘BBB-’ and a National Long-term rating of ‘AA(kaz)', both with Stable Outlook.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below