At 10:30am on December 23, 2009 at the Kazakhstan Press Club in Almaty.
JSC RFCA Rating Agency (RFCA RA) had come through the procedure of recognition by the Listing Committee of the Kazakhstan Stock Exchange (KASE), and was included into the list of rating agencies, the ratings of which are recognized by the Agency for Regulation of Activities of the Regional Financial Center of Almaty (RFCA ARA). This was announced today at a press conference in the Kazakhstan Press Club.

It is known that starting from January 1, 2010 any newly issued debt securities have to be awarded a rating to be officially listed on the KASE. The awarded credit rating will act as a criterion of compliance of the given debt securities and their issuers with a listing requirements.

The listing requirements of KASE in the new wording set the requirements to the rating agencies, the ratings of which will be taken into account while coming through the listing procedures. In particular, under the given rules, KASE recognizes the ratings of those rating agencies which are set forth in the statutory act issued by the authorized body for regulation of the RFCA activities.

Earlier, the list of the rating agencies, recognized by RFCA ARA, involved the three international rating agencies: Moody's Investors Service, Standard & Poor's, and Fitch. Thus, in the opinion of RFCA ARA Deputy Chairman Chingiz Kanapiyanov, the given event will open a new phase in the development of the Kazakhstan rating system.

Moreover, the press conference participants informed that in the current year, Zertteu DC Group, known for its brand name National Business, became a shareholder of RFCA Rating Agency. The given company has extensive experience in the field of sectoral analytics, studies of the Kazakhstani market, and rating award. According to RFCA RA Council of Directors Chairman Aigul Tasbolat, that fact that Zertteu DC Group became a shareholder of RFCA RA will undoubtedly add to increasing the transparency and independency of the rating agency.

In his turn, Managing Partner of Zertteu DC Group Arman Idrisov told that the said company as a new shareholder of RFCA RA is planning to develop the rating agency not only in the direction of promotion and increasing the image of the company among Kazakhstani investors, but intends to make the ratings awarded by RFCA RA an orienteer in the Kazakhstan investment market and an important part of carrying out due diligence by foreign investors.

The period when domestic companies can raise long and relatively cheap money for any purposes from banks ended, first of all, for the non-raw material market participants. While in the new phase those companies will be successful, which will be able to raise foreign capital in order to use the opportunities of the current recession, Customs Union with the RF, Belarus, etc., – he said. – I believe that through combining the efforts of our companies, we will be able to give the required impetus to the development of the non-raw material sector in Kazakhstan”.

Additional Info:

Joint Stock Company Regional Financial Centre of Almaty was set up in 2007 with the purpose of setting up and the successful operation of the financial center, attractive to all participants in both the domestic market and the world community.
The goals of RFCA are:
• Institutional development of the financial center, meeting international standards and adding to the attraction of foreign participants
• Attraction of new issuers and professional participants in the person of organizations, carrying out brokerage and dealer’s activity, and institutional investors to cooperate with the financial center
• Involvement of the domestic savings of the population into securities and other financial instruments through the stock market
• Development and introduction of new financial instruments and stock market techniques
• National rating system development
• Increasing the investment attractiveness of Almaty and the creation of a positive investment image of the Republic of Kazakhstan abroad
• Organization and technical support of the financial center activities
• Participation in the Program of Increasing the Population’s Awareness in Investment and Financial Issues in the Republic of Kazakhstan.

JSC Regional Financial Center of Almaty Rating Agency (RFCA RA) was set up in 2007 in the framework of implementation of a Plan of Events to Ensure a High-Quality Interaction with International Rating Agencies in Order to Increase the Sovereign Credit Rating and Develop Rating Agencies in the Republic of Kazakhstan and the Regional Financial Center of Almaty Development Program till 2010.

RFCA RA is the first national rating agency in Kazakhstan, providing services in independent evaluation of Kazakhstani companies awarding them with a corporate credit rating, corporate governance rating, credit rating of bonds, and financial institution creditworthiness rating.
The goal of the RFCA RA is to advance the economic development in general and the stock market development in particular in the Republic of Kazakhstan through ensuring the transparency and provision of reliable unbiased information about the issuers.

The strategic partner on the RFCA RA methodology is Rating Agency of Malaysia Berhad (RAM Holdings Berhad), the main agency assessing creditworthiness in Malaysia. In April of 1997, RAM Holdings was selected by the Asian Development Bank as the main domestic agency assessing in the area of APEC. Among the unique achievements of RAM Holdings is the experience in assessing the financing of infrastructure projects, as well as the evaluation of securities secured by assets. The Islamic debt instruments remain as one of the strengths of RAM Holdings as well.
JSC TFCA RA – Tel.: 3302301

Zertteu DC Group has been engaged in the provision of professional services in the area of consulting and studies since 2006. The assets portfolio of Zertteu DCG involves a few directions: (i) Consulting, aimed at the development of sectoral master plans and a stabilization program development, (ii) Studies, reviews by sectors of the economy, and analytics, as well as the Listing of Kazakhstani Brand Names, NB 500: The Largest Companies in the Country, and NB Results of the Year rating projects
(iii) Mass media and communication, involving the business edition The National Business, and a consulting and advisory platform, the National Business Forum, and a specialized web-site www.nbforum.kz.
Zertteu DC Group – Tel.: 3121132 (Ext. 135)