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S&P lowers KazTransGas outlook to negative
Standard & Poor's said it revised its outlooks on KazTransGas and JSC Intergas Central Asia to negative from stable.
At the same time, S&P said it affirmed its BB long-term corporate credit ratings on both entities.
The outlook change follows the revision to negative from stable of the outlooks on the Republic of Kazakhstan (foreign currency BBB-/negative/A-3, local currency BBB/negative/A-3, Kazakhstan national-scale rating kzAAA) and on KazTransGas's 100% parent, state-owned JSC NC KazMunayGas (BBB-/negative), the agency said.
S&P noted that the ratings on KazTransGas are two notches below that on KazMunayGas, based on a top-down approach.
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