S&P ups Kazakhstan national scale rating

S&P said it raised its long-term national scale rating on Kazakhstan to kzAAA from kzAA.

The agency also removed the under criteria observation designation from the rating.

The global scale sovereign credit and issue ratings on Kazakhstan were not affected by the action.

“Today's action resulted from a recalibration of the Kazakhstan national scale mapping table and does not reflect any change in Kazakhstan's fundamental credit quality or the sovereign's outstanding debt,” S&P said in a news release.

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