OREANDA-NEWS. Fitch Ratings has today affirmed Kazakhstan-based Kazkommertsbank's ("KKB") ratings at foreign currency Issuer Default "BB+", Short-term foreign currency "B", local currency Issuer Default "BBB-" (BBB minus), Short-term local currency 'F3', Individual "C/D" and Support "3". The Outlook on the foreign currency Issuer Default rating ("IDR") remains Positive and that on the local currency IDR Stable.

The Issuer Default, Short-term and Support ratings reflect the moderate probability of support being forthcoming, in case of need, from the Kazakhstani authorities.

The Stable Outlook on the local currency IDR reflects the fact that, given Fitch's current view of the authorities' propensity to support the country's largest banks, the support floor for the bank's IDRs is not expected to go higher than "BBB-" (BBB minus), even should the sovereign be upgraded.
 
The Individual rating reflects the risks inherent in the bank's rapid loan growth, which was particularly strong in Q406 following the receipt of new capital.