Fitch rates KazMunaiGaz note program BBB

Fitch Ratings said it assigned an expected BBB senior unsecured rating to KazMunaiGaz Finance Sub BV's proposed global medium-term note program of up to $3 billion. At the same time, the company's BBB long-term foreign- and local-currency issuer default ratings and F3 short-term foreign-currency issuer default rating were affirmed.

The outlook is negative.

KazMunaiGaz Finance will lend the proceeds from the program to program guarantor KazMunaiGaz National Co. The agency said the expected rating is in line with the latter's BBB long-term foreign-currency issuer default rating.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.