Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Kazakhstan Electricity Grid Operating Co. (Kegoc) > News item |
Fitch rates Kazakhstan Electricity Grid BBB-
Fitch Ratings said it assigned a local-currency senior unsecured rating of BBB- to Kazakhstan Electricity Grid Operating Co. and its domestic bond program for 84 billion in Kazakhstani tenge and the KZT47.5 billion bonds issued under it.
The senior unsecured rating is aligned with the company's long-term local-currency issuer default rating, reflecting that all of company's debt is equal in ranking, Fitch said.
The ratings reflect the overall strong links with the state, namely government guarantees for some of the company's debt, the agency said, and the company's long-term issuer default ratings are one notch lower than the sovereign's ratings.
The ratings also consider that the company is exposed to currency risk as about 76% of the company's 205 billion in Kazakhstani debt was in foreign currencies, Fitch said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.