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Fitch revises outlooks on 2 Kazakh lenders

Fitch Ratings on April 8 revised to negative from stable theoutlooks on the long-term foreign- and local-currency issuer default ratingsand national long-term ratings of JSC AsiaCredit Bank and JSC Eximbank Kazakhstan.

The outlook change reflects the lenders' more vulnerablecredit profiles due to greater asset quality deterioration and weaker coreprofitability. The banks' capitalization is undermined by significant volumesof risky exposures, Fitch said.

Fitch affirmed AsiaCredit Bank's B long-term issuer defaultratings, BB(kaz) national long-term rating and "b" viability rating,along with Eximbank's B- long-term issuer default ratings, B+(kaz) nationallong-term rating and "b-" viability rating. Fitch also affirmed bothlenders' B short-term foreign-currency issuer default ratings, 5 supportratings and No Floor support rating floors.

Fitch also affirmed JSC SB Alfa-Bank's B+ long-term foreign- andlocal-currency issuer default ratings, B short-term foreign-currency issuerdefault rating, BBB(kaz) national long-term rating, "b+" viabilityrating and 4 support rating. The outlooks on the long-term ratings are stable.

Additionally, the agency affirmed 's B long- andshort-term foreign- and local-currency issuer default ratings, BB(kaz) nationallong-term rating, "b" viability rating, No Floor support rating floorand 5 support rating. The long-term ratings carry stable outlooks.