Fitch affirms Eastcomtrans

Fitch Ratings said it affirmed Eastcomtrans LLP's long-term foreign- and local-currency issuer default ratings at B- and national long-term rating at B+(kaz).

The outlook remains stable.

The ratings reflect the company's strong and growing position in the Kazakh rolling stock market, Fitch said, and the fundamental prospects for the business stemming from increasing domestic oil and gas production.

The ratings also benefit from a relatively new wagon fleet, its flexible business model and commensurate credit metrics, the agency said.

The ratings continue to be constrained by weaknesses identified within the corporate governance area, Fitch said.

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