Moody's lifts Kegoc from junk

Moody's Investors Service said it upgraded to Baa3 from B1 the long-term issuer rating of Kazakhstan Electricity Grid Operating Co. (Kegoc), the state-owned electricity transmission grid owner and system operator of Kazakhstan.

The outlook is positive.

According to Moody's, the upgrade reflects Kegoc's low-risk, regulated monopoly business profile, its ownership and support from the government and its increasing strategic importance to Kazakhstan's economic growth.

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