Kazakhstan news for March 10, 2010

In this issue:

2 Corporate news
2 Moody's downgrades Alfa-Bank Kazakhstan to B2 from Ba3, stable outlook
2 ATF Bank issues $102 million domestic debt
2 Kazakhstan mulls tax breaks for Kazakhmys project
2 JSC Alliance Wins U.S. Bankruptcy Court Protection
2 Upcoming events
3 Industry news
3 Terex keen to participate in infrastructure projects in Kazakhstan
3 Kazakhstan to keep the status of the world leader of flour exports
4 Politics and Economics
4 President's decree confirms standards of rendering of state services by National Bank
4 Kazakhstan should strive for reaching level of developed countries
5 KASE & Market wrap
6 AFS-Research productline
7 AFS Research services
 

ATF Bank issues $102 million domestic debt
 

ATF Bank, a Kazakh subsidiary of the Italian Unicredit, said on Wednesday it had issued senior unsecured debt totaling KZT15 billion ($102 million). Fitch, the rating agency, has assigned the issue BBB long-term rating and AAA(kaz) national long-term rating. The issue will mature in two years, and the interest rate is indexed to the Kazakhstan Consumer Price Index plus 1.5 percent, with a lower limit of 8.0 percent APR and an upper limit of 13.0 percent APR. Last week, ATF Bank also informed the Kazakhstan Stock Exchange (KASE) that it repaid early a subordinated loan from February 27, 2009 totaling $40 million to its parent company UniCredit Bank Austria. (09/03/2010 silkroadintelligencer.com)
 

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