Fitch affirms Kazatomprom

Fitch Ratings said it affirmed JSC national Atomic Co. Kazatomprom's long-term foreign-currency issuer default rating at BBB- and its short-term issuer default rating at F3.

The outlook is stable.

The ratings reflect its strong position in the global uranium market as the fourth-largest uranium producer in the world, Fitch said.

The company benefits from its planned uranium production over 2009 through 2012 with long-term contracts, the agency said and from high barriers to entry pertaining to the nature of the industry with stringent licensing requirements and intergovernmental regulation.

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