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News from 04/06/2007 ( "" - Open Company " " TPP of. )
 
S*P Has confirmed sovereign credit ratings of Kazakhstan at a level "/-3" under obligations in foreign currency and " +/-2 " under obligations in national currency
LONDON. April, 5. Kazakhstan Today. Today international company Standard and Poor's has confirmed a long-term sovereign rating of Republic of Kazakhstans under obligations in foreign currency "" and a long-term sovereign rating under obligations in national currency " + ". At the same time short-term sovereign credit rating under obligations in foreign currency "Ç-3" and a short-term sovereign rating under obligations in national currency "Ç-2" were confirmed. About it the agency knows from message S*P.

Acknowledgement(confirmation) of ratings is connected by that volume of actives of the government still outstrips growth of a public debt in spite of the fact that the level conditional obligations is high and continues to grow owing to significant growth of bank crediting. The forecast - "Stable".

At the same time ratings of Bank of development of Kazakhstan (/-3) also were confirmed - because the bank is 100 % the property of the state and gets from him(it) necessary support. The forecast Still "stable".

" Acknowledgement(confirmation) of ratings reflects growth of volume of pure(clean) actives of public sector and significant growth of economy that covers the risk of conditional obligations resulting from significant growth of internal crediting and external borrowings of bank sector ", - has noted credit S*P Hatch Marshan.

The forecast "Stable" reflects a situation at which the proceeding weighed -budgetary policy(politics) counterbalances risks of increased inflation and decrease(reduction) of quality of actives of bank sector. " Risks for the budget in case of fluctuations of the prices for petroleum are substantially levelled by the big reserves accumulated by the government ", - has added L.Marshan. " Pressure on the part of inflation, nevertheless, can force to increase National bank monetary weight to support a rise in prices that will brake attempts economy ", - it(he) has noted. In too time, on L.Marshana's words, recent intention limit external borrowings of bank sector can is positive to affect a rating (if potential risks will be minimized). " The Important problem(task) - maintenance of high rates of economic growth at efficient control the risks connected to fast growth of credits of bank sector ", - was emphasized by it(he).

Deterioration of a financial position of the government owing to sharp fluctuations of the prices for petroleum, the further increase already a high level of inflation or decrease(reduction) of quality of actives of bank sector can result in downturn of ratings. This can be promoted also by essential deterioration of a political climate, - experts S*P consider.

Source: Kazakhstan Today
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