Moody's on Sept. 13 assigned long- and short-term bank deposit ratings of B2/Not Prime to Eurasian Bank JSC, with the long-term rating carrying a stable outlook.
The agency also assigned the Kazakh lender baseline and adjusted baseline credit assessments of "b3," long- and short-term counterparty risk assessments of B1(cr)/Not Prime(cr), long- and short-term counterparty risk ratings of B1/Not Prime, and national long-term bank deposit and counterparty risk ratings of Ba1.kz and Baa2.kz, respectively.
The bank's deposit ratings take into account a high probability of government support, Moody's said. It noted, however, that the bank's baseline credit assessment is primarily constrained by its weak asset quality, low profitability and its high exposure to related parties.
The stable outlook, meanwhile, reflects Moody's expectation that the bank's key credit metrics will relatively stabilize over the next 12 to 18 months.
