Moody’s reviews three Kazakh GRIs

Moody's Investors Service said it placed the ratings of three Kazakh government-related issuers on review for downgrade: National Co. Kazakhstan Temir Zholy (KTZ) and its subsidiary Kazakhstan Temir Zholy Finance BV, KTZ's wholly owned operating subsidiary Kaztemirtrans, and JSC National Co. Kazakhstan Engineering.

This action follows Moody's March 4 decision to place the Government of Kazakhstan's Baa2 government bond and issuer rating on review for downgrade. The review will assess the pressures on Kazakhstan's credit profile from the structural shock to the oil market.

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