Archive for July 9th, 2008
Fitch affirms BTA Bank’s ratings; highlights downward pressure on individual rating
(Fitch Ratings) - Fitch Ratings has today affirmed Kazakhstan-based BTA Bank’s (BTA) ratings at foreign currency Long-term Issuer Default rating (IDR) ‘BB+’, foreign currency Short-term IDR B’, local currency Long-term IDR ‘BBB-’ (BBB minus), Short-term local currency IDR ‘F3′, Individual ‘C/D’, Support D’ and Support Rating Floor BB+’. The Outlook on the both Long-term IDRs remains Negative.
Developers plan $1.5 Billion resort casino for Kazakhstan
Developers are planning a $1.5 billion resort in Kazakhstan. Known as Borovoe Lakes, the resort will feature six hotels, six casinos, 750 private residences, and two golf courses.
The project will be located two-and-a-half hours south of the Kazakhstan capitol of Astana.
Fitch affirmed Kazkommertsbank’s ratings at ‘BB+’ downward pressure on ‘C/D’ individual rating
(Fitch Ratings) - Fitch Ratings has today affirmed Kazakhstan-based Kazkommertsbank’s (KKB) ratings at Long-term foreign currency Issuer Default rating (IDR) ‘BB+’, Short-term IDR ‘B’, Long-term local currency ‘BBB-’ (BBB minus), Short-term local currency IDR ‘F3′, Individual ‘C/D’, Support ?’ and Support Rating Floor ‘BB+’. The Outlooks for both Long-term IDRs remain Negative.
Production expected to increase at North Buzachi oil field
Oil production at the North Buzachi field, developed jointly by CNPC (50 percent), Lukoil and Mittal (25 percent each), is expected to increase by a quarter to 2 million tons this year, Interfax reported on Tueasday citing a source at Lukoil Overseas.
