International rating agency Moody’s affirmed the long-term issuer rating of Development Bank of Kazakhstan JSC at Baa2, with the outlook revised from «stable» to «positive».
This was due to the decision of Moody’s on October 27, 2023 to affirm the rating of the Republic of Kazakhstan at Baa2 and revise its outlook from «stable» to «positive».
Also, the Bank’s subsidiary Industrial Development Fund JSC has upgraded its long-term issuer rating from Ba2 to Ba1 with a «positive» outlook.
Note that DBK maintains its ratings at the level of sovereign ratings of the Republic of Kazakhstan: BBB- with «stable» outlook from S&P and BBB with «stable» outlook from Fitch.
