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S&P assigns ratings to Kazakhstan-based BTA Bank

S&P Global Ratings on Oct. 11 assigned BTA Bank JSC B/B long- and short-term foreign- and local-currency issuer credit ratings, with a stable outlook.

The entity, which returned its banking license in 2015, was also assigned a Kazakhstan national scale rating of kzBB.

The stable outlook reflects S&P's view that the group, which currently operates as an investment vehicle focusing on recovering the assets of the failed BTA Bank and its former owners, will continue addressing its nonperforming assets gradually and that the entity's cash proceeds will be enough to fulfill its liquidity needs during the next 12 months.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings document referred to in this news brief can be found in the sources section.