S&P bumps Intergas Central Asia, KazTransGas outlook to positive

Standard & Poor's said it revised its outlook on Intergas Central Asia and its holding company, KazTransGas, to positive from stable.

The revision reflects a reassessment of the credit quality of parent, government-controlled KazMunaiGas oil and gas group (KMG, not rated) and of KazTransGas's role in the group.

At the same time, the BB long-term corporate credit rating was affirmed, the agency said, adding that it believes that KazTransGas's credit quality depends heavily on the overall credit quality of the KMG group, given KazTransGas's nascent role of national gas industry champion.

S&P added that its rating on KazTransGas is based on a top-down approach and is somewhat below its assessment of KMG's credit quality.

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