Fitch rates Eastcomtrans B-

Fitch Ratings said it assigned Eastcomtrans LLP long-term foreign- and local-currency issuer default ratings of B- and a national long-term rating of B+(kaz).

The outlook is stable.

The ratings reflect the company's strong position in the Kazakh rolling stock market and its young wagon fleet and flexibility to address variable demand through sub-lease contracts, Fitch said.

The ratings also consider its lean business model supporting profitability, the agency said, as well as growth prospects stemming from increasing domestic production of oil and gas and an expected shortage of pipeline transport capacity in the country.

These strengths are offset by its business concentration on a single large customer, which accounts for more than 80% of its annual revenues, Fitch added.

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