Fitch rates KanMunaiGaz notes BBB

Fitch Ratings said it assigned KazMunaiGaz Finance Sub BV's $1.4 billion notes due 2013 with a coupon of 8.375% and $1.6 billion notes due 2018 with a coupon of 9.125% final BBB ratings. The notes are issued under KMG Finance Sub BV's $3 billion note program, which is rated a final BBB.

KazMunaiGaz National Co. (rated BBB with negative view) is the guarantor of the note issues. Proceeds will be used to finance the capital expenditure program for the Kashagan project and general corporate purposes, the agency said.

© 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.