Fitch lifts Kazakhtelecom view to positive

Fitch Ratings said it has changed JSC Kazakhtelecom's (Kaztel) outlook to positive from stable.

Its foreign and local currency issuer default ratings are affirmed at BB, and the short-term foreign currency rating is also affirmed at B.

Fitch said the positive outlook reflects Kaztel's sustained profitable growth, continued limited competition thanks to slow market deregulation and its entry into the mobile business in Kazakhstan, using GSM technology, via its acquisition of Mobile Telecom Services.

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