"Agrarian Credit Corporation" JSC was created by the decision of the Government of the Republic of Kazakhstan dated January 25, 2001 № 137 "On the credit issues of the crediting of agricultural sector".
The initial authorized capital was 150 million tenge. The Corporation is a part of "KazAgro" National management holding.
On 20 March 2001 Corporation was officially registered with the Ministry of Justice.
On 10 July 2015 the International rating agency "Standard & Poor's Ratings Services" affirmed the ratings of the Corporation:
- Foreign Currency Issuer Credit Rating: BB + / Stable;
- National Currency Issuer Credit Rating: B / Stable;
- National Rating Scale: kzAA- / Stable.
On June 30, 2017, S&P Global Ratings lowered its long-term foreign and local currency issuer credit ratings on KACC to 'BB' from 'BB+'. At the same time, S&P Global Ratings lowered the Kazakhstan national scale rating to 'kzA' from 'kzAA-'. S&P Global Ratings affirmed the short-term ratings at 'B'. The outlook is negative.
Sept. 12, 2017--S&P Global Ratings has revised its outlook on Kazakh Agrarian Credit Corp. (KACC) to stable from negative. At the same time, S&P Global Ratings affirmed ‘BB/B' long- and short-term issuer credit ratings and 'kzA' Kazakhstan national scale rating on KACC.
As of 03.01.2016, the assets of the Corporation were $ 144 821 million tenge, the loan portfolio was 133 325 million tenge.