Moody's affirms Kazatomprom

Moody's Investors Service said it affirmed the Baa3 foreign-currency issuer rating for JSC National Atomic Company (Kazatomprom) with a stable outlook.

By virtue of its current ownership structure (100% owned by the government of Kazakhstan), Kazatomprom is considered a government-related issuer.

Moody's said the rating reflects the company's long term licenses for exploiting the existing uranium deposits, long-term nature of contracts with customers that provide a good visibility on future revenues levels and strategic role of the company as the operator of Kazakh nuclear raw material resources.

The rating also considers its relatively small size and modest business diversification, along with a high exposure to environmental and contamination risks, the agency said.

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