Moody's downgrades Kazakh banks

Moody’s has taken rating actions on six Kazakh banks. The affected banks are Kazkommertsbank, Bank TuranAlem, Halyk Bank, Alliance Bank, Bank CenterCredit and TemirBank.

The move reflects the negative effect of the liquidity crisis on banks' credit risk profiles.

One bank, Kazkommertsbank, has seen its bank financial strength rating (BFSR) downgraded from D to D-. Others have seen the outlook on the BFSR, or the outlook on the banks’ deposit and debt ratings, changed negatively.

Moody’s says the

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