OREANDA-NEWS. August 17, 2009. BTA Bank's subsidiary-Temirbank (Almaty), a company listed on KASE, provided a press release, reported the press-centre of KASE:

Daulet Karimbaev, deputy chairman of Temirbank's board, commented in media on recent upgrade of Temirbank's IDR by Fitch Ratings from "C" to "CC".

- A bit earlier Temirbank's rating was downgraded due to a wrong assumption Temirbank BTA Bank's subsidiary is involved in the debt restructure program, - Daulet Karimbaev said. - Therefore, an upgrade of the rating on August 4 was conditioned by the fact that Temirbank's debt is not a part of restructuring plan. Currently Temirbank is financially stable and maintains sufficient liquidity to honor its domestic and foreign obligations. Temirbank has not given reasons to doubt its financial policy, the bank timely and its expense paid current liabilities in the first half this year, - Daulet Karimbaev stressed.