International ratings agency S&P Global Ratings has upgraded the long-term credit rating of Kazakhstan’s Bank CenterCredit from BB to BB+, affirmed its short-term rating at B, and raised its national scale rating from kzAA- to kzAA+.
The agency also lifted the bank’s stand-alone credit profile (SACP) from bb to bb+ on stronger capital buffers. The rating outlook remains positive. The decision follows an upgrade of Kazakhstan’s sovereign rating and an improvement in the country’s banking sector risk score from 7 to 6.
