Fitch ups Kazakhtelecom to A+(kaz), view to positive

Fitch Ratings said it revised the outlook on Kazakhtelecom JSC's long-term issuer default rating to positive from stable and affirmed the issuer default rating at BB.

The agency also upgraded the national long-term rating to A+(kaz) from A(kaz) and assigned a positive outlook.

Fitch said the outlook revision reflects the company's improving liquidity, narrowing mismatch between predominantly domestic revenues and FX debt, improving cash flow, a successful launch of mobile operations and therefore lower execution risks associated with further mobile expansion.

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