OREANDA-NEWS. August 17, 2009. Daulet Karimbayev, Deputy Chairman of Temirbank JSC, commented on the recent upgrade of Temirbank's Long-term Issuer Default Rating (IDR) to 'CC' from ' C' made by Fitch Ratings, reported the press-centre of Temirbank.

- Before Temirbank was downgraded due to the wrong perception that Temirbank, being a subsidiary of BTA Bank, is a part of the debt restructuring plan of the parent company, - explained Daulet Karimbayev. - As a result, the following upgrade of Temirbank on 4 August, 2009 was caused by the clarification that, currently, Temirbank is not a part of the restructuring plan of BTA Bank. In the meantime, Temirbank continues to maintain financial stability and has sufficient liquidity to meet its local and foreign liabilities. Temirbank was loyal to its financial policy, for example, the bank successfully repaid its debt in full by own funds in the first half of the year, - stressed Daulet Karimbayev.