Moody's may upgrade Temir Zholy Finance

Moody's Investors Service said it placed the provisional Baa1 debt rating, with positive outlook, assigned to the senior unsecured notes to be issued by Kazakhstan Temir Zholy Finance on review for possible upgrade.

This follows an earlier decision by Moody's to place the Republic of Kazakhstan's foreign currency ceiling and bond ratings of Baa3, with positive outlook, on review for possible upgrade.

The rating considers Kazakhstan's A3 local currency issuer rating; the Baa3 Kazakhstan country ceiling; Kazakhstan's low moratorium risk; and a moderately high risk for Kazakhstan as a railways company to be affected by any such moratorium.

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