Moody’s acts on Kazakh issuers

Moody’s Investors Service said it upgraded to Baa2 from Baa3 the ratings of five Kazakhstani government-related issuers Kazakhstan Electricity Grid Operating Co., KazMunayGas NC JSC, Kazatomprom, Intergas Central Asia and JSC KazTransGas.

Concurrently, Moody’s changed the outlook for KazMunayGas, Intergas Central Asia, KazTransGas and Kazakhstan Electricity Grid to stable from positive. Kazatomprom’s outlook remains stable.

“Today's rating actions follow a sovereign rating action on the government of Kazakhstan which took place on Aug. 11, 2021, where Moody's upgraded the government of Kazakhstan's long-term issuer and senior unsecured debt ratings to Baa2 from Baa3 and changed the outlook to stable from positive,” the agency said in a press release.

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