OREANDA-NEWS. Fitch Ratings has today assigned TuranAlem Finance B.V.'s ("TAF") upcoming GBP fixed-rate eurobond issue due 2009 an expected "BB+" Long-term rating.

The final rating is contingent upon receipt of final documentation conforming materially to information already received.

The issue is to be guaranteed by Kazakhstan's Bank TuranAlem ("BTA"), rated foreign currency Issuer Default "BB+"/Stable, local currency Issuer Default "BBB-" (BBB minus)/Stable, Short-term foreign currency "B", Short-term local currency "F3", Individual "C/D" and Support "3".

Proceeds from the issue will be deposited with BTA.