Fitch rates Kazakhstan Electricity BBB

Fitch Ratings said it assigned ratings to Kazakhstan Electricity Grid Operating Co., including a long-term foreign-currency issuer default rating of BBB, short-term issuer default rating of F3 and a long-term local currency issuer default rating of BBB+.

The outlook is stable.

The ratings are linked to the rating of The Republic of Kazakhstan (BBB with stable view) and reflect 100% state ownership and strong state support stemming from the strategic nature of Kazakhstan's national transmission grid, Fitch said.

The ratings also reflect its low business risk profile as a result of the regulatory regime in Kazakhstan and the general predictability of cash flows, the agency said.

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