Moody’s alters Kegoc outlook to positive

Moody's Investors Service said it changed the outlook to positive from stable and affirmed the Baa2 long-term issuer ratings of Kazakhstan Electricity Grid Operating Co. (Kegoc).

“Kegoc's positive rating outlook is in line with the positive outlooks on Kazakhstan's sovereign rating and the rating of Samruk-Kazyna. It reflects the company's solid positioning within the current rating category, with a potential for an upgrade if Moody's were to upgrade Kazakhstan's sovereign rating and the rating of Samruk-Kazyna, provided there is no significant deterioration in Kegoc's stand-alone credit factors, including its operating and financial performance, credit metrics, and liquidity, and no weakening in the probability of support from Samruk-Kazyna and the government in the event of financial distress,” the agency said in a press release.

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