Halyk Bank Credit Rating Upgraded to BBB-

S&P Global Ratings has upgraded Halyk Bank's issuer credit ratings to 'BBB-/A-3' with a stable outlook, marking it as the first bank in Kazakhstan to achieve an investment-grade rating from all major agencies. This upgrade reflects Halyk Bank's strong market position, sound risk management, and stable financial performance, with a notable decrease in classified loans. Meanwhile, S&P also reaffirmed Thailand's sovereign credit rating at BBB+ and highlighted the country's projected economic growth due to recovery in tourism and government stimulus measures, with expectations of stable fiscal performance over the next several years. In Peru, Compania de Minas Buenaventura received a rating upgrade from Fitch to BB, driven by production increases and operational diversification. Additionally, NEWGT Reinsurance Company maintained its strong financial ratings from AM Best, supported by robust capitalized strength and positive operating performance. Overall, these developments indicate a positive trend in credit ratings across various sectors and countries.