Moody's gives National Co. Food Contract bonds Ba3

Moody's Investors Service said it assigned a provisional Ba3 rating to the KZT 15 billion senior unsecured bonds National Co. Food Contract Corp. JSC is planning to issue.

Moody's said its rating on the proposed bond issue, at the same level of the corporate family rating, is based on the agency's understanding that while the bonds will not benefit from a guarantee from the issuer's subsidiaries, no debt class currently benefits from guarantees or-liens on the assets of the company and its subsidiaries.

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