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S&P revises outlook on Uzbekistan's Hamkorbank

S&P Global Ratings on Oct. 4 affirmed JSCB with Foreign Capital Hamkorbank's B+/B long- and short-term issuer credit ratings and revised the outlook on the long-term ratings to positive from stable.

The rating agency noted that the positive outlook on the Uzbekistan-based lender reflects the possibility of an upgrade in the next 12 months. This is based on a potential improvement in the bank's creditworthiness, if it is able to show high profitability and maintain adequate capital buffers and asset quality, according to S&P Global Ratings.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.