Fitch rates Development Bank of Kazakhstan's medium term notes 'BBB'

Azerbaijan, Baku, Nov. 30 / Trend E. Kosolapova/ Fitch Ratings has assigned the Development Bank of Kazakhstan's $1 billion medium term notes a Long-term rating of 'BBB'. The medium term notes mature in December 2022, carry a coupon rate of 4.125% payable semi-annually and have been issued for refinancing purposes. They will rank pari passu with the bank's senior unsecured obligations. Development Bank of Kazakhstan (issued 10-year Eurobonds worth $1 billion with a maturity of 10 years on Nov. 26. Development Bank of Kazakhstan's primary role is to foster development of the country's non-extracting sectors. Kazakh Sovereign Wealth Fund Samruk Kazyna, which is wholly owned by the government of Kazakhstan ('BBB+'/Stable), controls 100 percent of the bank's share capital. Do you have any feedback? Contact our journalist at agency@trend.az