Moody’s: Kazakhstan Electricity to stable

Moody's Investors Service said it affirmed Kazakhstan Electricity Grid Operating Co.’s Baa3 long-term issuer rating and changed the outlook to stable from negative.

The follows the July 26 affirmation of the Government of Kazakhstan’s Baa3 issuer and senior unsecured ratings and the outlook change to stable from negative.

Moody’s said the stable outlook mirrors the stable outlook on Kazakhstan's sovereign rating and reflects the fact that Kazakhstan Electricity’s rating incorporates a significant element of extraordinary government support.

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