OREANDA-NEWS. February 04, 2014. The international rating agency Fitch Ratings (hereinafter – Fitch) announced the upgrade of Long-Term Issuer Default Ratings (hereinafter – IDRs) of JSC “Halyk Bank” (hereinafter the “Bank” or “Halyk Bank”) to ‘BB’ from ‘BB-’ and removed the ratings from Rating Watch Evolving (RWE). The Outlook on the Bank’s ratings is Stable.

The upgrade of Halyk Banks’s Long-Term IDRs to ‘BB’ reflects Fitch’s view “of the Bank’s strong nationwide franchise, solid profitability and capitalisation, comfortable liquidity position and limited refinancing risks”.

The Bank’s new ratings are one of the highest among Kazakhstan banks and confirm Halyk Bank’s leading position in the market.