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Fitch ups KazTransOil, debt
Fitch Ratings said it affirmed JSC KazTransOil's (KTO) long-term foreign currency issuer default rating at BBB and upgraded its long-term local currency issuer default rating to BBB+ from BBB.
The outlooks are stable.
KazTransOil’s national long-term rating and national senior unsecured rating were also upgraded to AAA(kaz) from AA+(kaz) to reflect the upgrade of the long-term local currency issuer default rating.
The outlook on the national long-term rating is stable.
Fitch said the ratings reflect KazTransOil’s strong operational and credit profile, which the agency expects it will maintain at least over the medium-term, and its strategic importance to the economy of Kazakhstan (BBB+/stable).
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