S&P lowers KazEximbank’s ratings


S&P Global Ratings lowered its long- and short-term issuer credit ratings on Eximbank Kazakhstan JSC (KazEximbank) to 'CCC+/C' from 'B-/B'.

The agency also lowered our Kazakh national scale rating on the bank to 'kzB-' from 'kzB+’.

“The downgrade reflects our view that KazEximbank’s business model and longer-term viability in the Kazakh banking...