Fitch: Astana still on watch

Fitch Ratings said it maintained the C long-term issuer default rating of Astana Finance Leasing JSC on Rating Watch negative, reflecting the high probability that the company's obligations will soon be subject to a coercive debt exchange.

The company's short-term foreign-currency issuer default rating was maintained at C and continues to be on Rating Watch negative, along with its national long-term rating at C(kaz).

The agency said the company's long-term issuer default rating was downgraded to C and placed on Rating Watch negative in May 2009 following news of a default by its parent, JSC Astana Finance.

Its long-term foreign-currency issuer default rating is at restrictive default, along with its short-term foreign-currency issuer default rating and long-term local-currency issuer default rating.

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