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Fitch may cut Astana
Fitch Ratings said it placed the Kazakh City of Astana's long-term foreign-currency BBB- rating and short-term F3 rating on rating watch negative. The city's long-term local-currency rating is affirmed at BBB- and national long-term rating at AA(kaz).
The outlook is stable.
The negative watch follows the placing of Kazakhstan's long-term foreign-currency issuer default rating of BBB- and short-term rating of F3 on rating watch negative.
The review reflects concerns that the government's finances are likely to come under pressure in the near term, due to measures to support the economy and the banking system, Fitch said.
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