Fitch affirms KazTransOil

Fitch Ratings said it affirmed JSC KazTransOil's long-term foreign-currency issuer default rating at BBB- and short-term foreign-currency issuer default rating at F3.

The outlook is stable.

The ratings reflect its monopoly position in the oil transportation sector in Kazakhstan, the economy of which is dependent on the development of the oil industry, Fitch said.

The agency said it believes the company is well placed to capitalize on the expected growth of oil production in Kazakhstan over the medium term.

The ratings also incorporate the company's stable business profile and robust credit metrics, Fitch said.

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