Business and financial services company "Moody's Investors Service" upgraded the rating of "DBK-Leasing" JSC to Ва2

"Moody's Investors Service" upgraded the long-term issuer rating of "DBK-Leasing" JSC (hereinafter - "DBK-Leasing") in local and foreign currency from Ba3 to Ba2. It also confirmed the short-term issuer rating on Not-Prime. The outlook on the issuer is "Stable". In the published press-release "Moody's Investors Service" noted the support from the state and the parent company of "Development Bank of Kazakhstan" JSC (Baa3), which in turn demonstrates the importance of "DBK-Leasing" in achieving the strategic goals of the Government of Kazakhstan. Analysts of the agency also stressed the strong financial profile of "DBK-Leasing". In the agency's view, this indicator reflects the consistently justified indicators of profitability, liquidity and asset quality. "External independent assessment of the international rating agency Moody's Investors Service confirms the correctness of the chosen strategy of leasing development as an additional channel for attracting investment into the economy.  Over the last 3 years, significant investments have been made through the financial leasing instrument to upgrade the fixed assets of the manufacturing industry and transport infrastructure.  Active work was carried out on the growth of the leasing portfolio and qualitative improvement of key financial indicators" - said the Chairman of the Board of "DBK-Leasing" N. Baibazarov. "DBK-Leasing" finances projects in the manufacturing industry, industrial and transport infrastructure within the framework of the state programs of industrial and innovative development for 2015-2019, infrastructure development "Nurly Zhol" for 2015-2019, business support and development programs "Business Road Map 2020". Since 2018, the Company has launched programmes to upgrade its bus and tractor fleet and aircraft for regional airlines, finance municipal projects in the area of social and transport infrastructure and provide special medical equipment.  At the end of 2018, according to unaudited data, "DBK-Leasing" assets amounted to 315 billion tenge, equity capital of 47 billion tenge and net profit of 3.8 billion tenge. https://www.moodys.com/research/Moodys-upgraded-DBK-Leasing-to-Ba2-outlook-stable--PR_395276