Fitch revises KazAgro to stable

Fitch Ratings said it revised KazAgro National Management Holding JSC's outlook to stable from negative and affirmed its long-term foreign- and local-currency issuer default ratings at BBB-.

The agency also affirmed the short-term foreign-currency issuer default rating at F3 and the senior foreign- and local-currency debt ratings at BBB-.

Fitch said the outlook revision was driven by the restoration of KazAgro's financial profile in 2016 underpinned by the state support in the form of equity injections and debt funding and improved profitability of its operations.

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