Moody's rates KazTransGas Baa1

Moody's Investors Service said it assigned a first-time senior unsecured issuer rating of Baa1 to JSC KazTransGas.

The outlook is stable.

Moody's said it has taken into account the company's monopoly position in gas transmission within Kazakhstan for international transit, export and domestic supply under a long-term concession agreement; its strong position in gas distribution to industrial and retail customers; its strong geographical position; and the company's importance to the developing Kazakhstan economy and its integral relationship with KazMunaiGas, the national company representing state strategic interests in the gas industry.

The rating also anticipates that the company's historically weak financial ratios will continue to strengthen materially over the intermediate term as a result of conservative financial policies, the agency said.

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