S&P: KazAgro on watch

Standard & Poor's said it placed the BBB long-term and A-2 short-term issuer credit ratings and kzAA+ national scale rating on KazAgro National Management Holding on CreditWatch with negative implications.

S&P said it is currently reviewing assumptions regarding the likelihood of timely and extraordinary support to KazAgro by the government of Kazakhstan in a potential stress scenario.

Against a background of a weaker macroeconomic outlook and fiscal revenue pressures, the government may be less inclined to extend such support should the need arise, the agency said.

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