Fitch: Kazakh oil to stabilize

Fitch Ratings said it expects the credit metrics of Kazakh oil and gas companies to stabilize in 2010, following a review of financial reports and in line with the agency's forecast for higher oil prices.

Fitch said it anticipates rating actions in the Kazakh oil and gas sector in 2010 to reflect stabilization of the companies' operational and financial profiles, but does not view upgrades on a broader scale as likely.

That's because there are still risks to the sector, the agency said, and sovereign rating constraints.

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