Fitch rates Intergas Central notes BB+

Fitch Ratings said it assigned Intergas Central Asia's $600 million notes maturing in 2017 a final senior unsecured rating of BB+ upon the review of the final bond documentation. The notes are issued by the company's funding vehicle Intergas Finance BV and unconditionally and irrevocably guaranteed by Intergas Central Asia.

The rating is in line with Intergas Central's issuer default rating of BB+. The rating reflects the company's strategic position in the Kazakh gas transit business and support from its ultimate owner, National Company KazMunaiGaz (rated BBB with stable outlook). It also takes into account an expected increase in financial leverage due to ICA's sizeable investment projects, Fitch said.

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