S&P rates Intergas Finance notes BB

Standard & Poor's said it assigned its BB long-term senior unsecured debt rating to the proposed notes issue by Intergas Finance BV, a finance subsidiary of KazTransGas (BB/stable/--), which - through its 100% subsidiary Intergas Central Asia (BB/stable/--) - operates the gas pipeline network of Kazakhstan under a 20-year concession agreement.

The size and maturity of the notes issue will be determined at placement.

"The rating on the notes is the same as the rating on both KTG and ICA, reflecting that the notes will be irrevocably, unconditionally, jointly, and severally guaranteed by both KTG and ICA and will rank equal to their other senior unsecured obligations," said S&P credit analyst Eugene Korovin.

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