Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for KazMunayGas > News item |
S&P drops KazMunayGas to BB+
Standard & Poor's said it lowered its long-term corporate credit ratings on KazMunayGas NC JSC and core subsidiary KazMunaiGas Exploration Production JSC to BB+ from BBB-.
The outlook is negative.
At the same time, the agency lowered the Kazakhstan national scale rating to kzAA- from kzAA.
The actions follow the Feb. 9 downgrade of Kazakhstan.
S&P said the downgrade reflects KazMunayGas’ status as a government-related entity with an "extremely high" likelihood of receiving government support if in need. The agency therefore incorporates four notches of uplift into the long-term 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.