Fitch affirms Kaztel

Fitch Ratings said it affirmed AO Kazakhtelecom's ratings at senior unsecured foreign currency and local currency BB with stable outlook and short-term B.

Fitch said the ratings take into account Kaztel's near-monopoly market position as a national fixed-line incumbent operator.

Industry deregulation has so far been slow, which Fitch said has benefited the company as it continues to capitalize on its near-monopoly position.

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