S&P assigns Kazakh ForteBank 'kzBB' national scale rating

Azerbaijan, Baku, Dec. 27 / Trend / Standard & Poor's Ratings Services assigned its 'kzBB' Kazakhstan national scale rating to JSC ForteBank. The rating on ForteBank JSC reflects the 'bb-' anchor for a commercial bank operating only in Kazakhstan. The bank's business and risk positions are negative rating factors, while capital and earnings, funding and liquidity are neutral for the rating, the Standard & Poor's Ratings Services statement says. Standard & Poor's criteria uses the Banking Industry Country Risk Assessment economic risk and industry risk scores to determine a bank's anchor, the starting point in assigning an issuer credit rating. The anchor for a commercial bank operating only in Kazakhstan is 'bb-'. Kazakhstan's economic risk score is '8' and the industry risk score is '7'. Do you have any feedback? Contact our journalist at agency@trend.az