Moody's may cut Kazpost

Moody's Investors Service said it placed Kazpost JSC global scale rating of Baa3 and the national scale rating of Aa3.kz under review for possible downgrade.

The review was prompted by concerns that ongoing stress in the nation's economy might result in the government having to become more selective in its allocation of support to its corporate state-owned enterprises, Moody's said.

The review will consider factors including the likelihood and extent of state intervention in case of need and the capacity of the government to intervene and support the company in a timely manner.

In light of the current high support built into the rating, any reduction of support for the company going forward could result in a multi-notch downgrade, the agency said.

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