“Stable” Outlook for “Damu”

Moody's Investors Service international rating agency confirmed the long-term and short-term ratings of “Damu” Fund (a subsidiary of “Baiterek” Holding) in national and foreign currencies at “Baa3/Prime-3” level with a “stable” outlook; the ratings based on the national scale are at "Aa1.kz" level. The issuer’s outlook also remains “stable”.

Moody's experts noted the role of the fund in addressing the tasks of the state as the main tool for providing financial assistance to small and medium-sized businesses and communication with the Government of Kazakhstan through “Baiterek” parent holding, which ensures high return on assets.

“Damu” Fund serves the function of government and third-party resources distribution to second-tier banks and microcredit organizations for entrepreneurship development. The existing status of the fund ensures its business niche for the entrepreneurship development in Kazakhstan.