OREANDA-NEWS. On November 21, 2008 Alliance Bank (Almaty), a listing company of Kazakhstan Stock Exchange (KASE), provided KASE with the press release dated November 18, 2008, reported the press-centre of KASE:

Alliance Bank (LSE: ALLB) declared that Standard & Poor's International Rating Agency has confirmed the credit rating of the bank assigned earlier at the level: long-term - "В+" and short-term - "B". At the same time, the outlook of Alliance Bank ratings remains "Negative".

According to Standard & Poor's Agency this rating action is stipulated by the official statement of Kazakhstani Government on the state support measures for four systemic banks of Kazakhstan, including Alliance Bank.

As it was reported before, Mr. Karim Massimov, Prime-Minister of the Republic of Kazakhstan addressed the shareholders of Alliance, BTA, KKB and Halyk with the official offer on purchase of 25% of at state support ordinary and preferred shares through "SamrukKazyna" State Fund of National Welfare.

In opinion of Standard & Poor's analysts, Government measures lessen direct pressure on four banks ratings listed above. "Currently we take into account stronger influence of the state support in rating assignment for the banks. Recently the Government of Kazakhstan has defined Alliance as the systemic bank and included it into support program" - reported in the message of the Agency.

"We consider confirmation of Alliance Bank ratings to be a fair response from rating agencies - Standard & Poor's and Fitch - to the support of four systemic banks declared by Kazakhstani Government. These rating actions have again proved the ability of the bank to execute all obligations on time and in full, as well as its financial strength", - commented Mr. Anvar Khaltayev, Managing Director of Alliance bank's International Department.