Moody's gives Temir Zholy notes Baa3

Moody's Investors Service said it assigned a provisional Baa3 with stable outlook to the proposed dollar-denominated notes to be issued by Kazakhstan Temir Zholy Finance BV, which is jointly owned by JSC National Co. Kazakhstan Temir Zholy and by its subsidiary, JSC Kaztemirtrans.

The outlook is stable.

Moody's added that the notes proceeds are to be lent by the issuer to members of the KTZ group and used by them for general corporate purpose, including refinancing needs, investments and working capital funding.

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