S&P launches national credit rating scale for Kazakhstan

By Reshmi Basu

New York, Nov. 24 - Standard & Poor's Ratings Services said it launched its national credit rating scale for the Republic of Kazakhstan in response to the country's growing need for international investment, its expanding bond market and the infusion of foreign investors.

As Kazakhstan's economy develops, the new scale will allow the ratings agency to refine distinctions in the credit quality of local debt issuers.

The rating scale will provide both debt ratings, which apply to a specific debt instrument, and issuer credit ratings, which apply to a specific obligor.

"The scale is a unique instrument for measuring the credit risk associated with issuers and debt instruments operating and used on the Kazakhstan market," said Rob Richards, managing director and chief credit officer for the Commonwealth of Independent States.

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