Moody's rates Astana notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to the senior unsecured foreign currency notes expected to be issued by Astana Finance BV, a wholly owned subsidiary of Kazakhstan's Astana Finance (Ba1 issuer rating).

The outlook is stable.

Moody's said the Ba1 rating incorporates a high level of support from the City of Astana (Ba1/stable) due to its position as a non-controlling but key shareholder of Astana Finance, the city's successive capital injections in order to remain a key shareholder, the city's declared unconditional support in the event that Astana Finance were unable to meet its obligations and the role still played by Astana Finance in the city's economic and social development.

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