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Fitch ups Kazakh firms view to stable
Fitch Ratings said it affirmed seven Kazakh corporations' long-term foreign-currency issuer default ratings and revised their rating outlooks to stable from negative.
KazMunaiGaz National Co.'s outlook was revised to stable. Its long-term foreign-currency issuer default rating was affirmed at BBB-, long-term local-currency issuer default rating at BBB, short-term foreign-currency issuer default rating at F3 and senior unsecured rating at BBB-.
JSC KazMunaiGas Exploration Production's outlook was revised to stable. Its long-term foreign-currency issuer default rating was affirmed at BBB-, long-term local-currency issuer default rating at BBB- and short-term foreign-currency issuer default rating at F3.
JSC KazTransOil's outlook was revised to stable. Its long-term foreign-currency issuer default rating was affirmed at BBB- and short-term foreign-currency issuer default rating at F3.
JSC National Atomic Co. Kazatomprom's outlook was revised to stable. Its long-term foreign-currency issuer default rating is affirmed at BBB- and short-term foreign-currency issuer default rating at F3.
Kazakhstan Temir Zholy's outlook is revised to stable. Its long-term foreign-currency issuer default rating is affirmed at BBB- and senior unsecured rating at BBB-.
Kazakhstan Electricity Grid Operating Co.'s outlook is revised to stable. Its long-term foreign-currency issuer default rating is affirmed at BBB-, long-term local-currency issuer default rating at BBB and short-term foreign-currency issuer default rating at F3.
Mangistau Electricity Distribution Network Co.'s outlook is revised to stable. Its long-term foreign-currency issuer default rating is affirmed at BB, foreign-currency senior unsecured rating at BB, short-term foreign-currency issuer default rating at B, long-term local-currency issuer default rating at BB+, local-currency senior unsecured rating at BB+ and national long-term rating at AA-(kaz).
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