Fitch affirms KazTransGas

Fitch Ratings said it affirmed KazTransGas JSC's and fully owned subsidiaries, Intergas Central Asia JSC's and KazTransGas Aimak JSC's long-term foreign- and local-currency issuer default ratings at BBB-.

The outlook is stable.

Fitch said the affirmations reflects its assessment of the continuing strong linkage between KazTransGas and its immediate parent, JSC National Co. KazMunayGas (BBB-/stable), on the one hand, and between the company and the state, on the other hand.

KazTransGas has a dominant position in national gas transportation and distribution in Kazakhstan. It is also the subject of a cross-default provision in KazMunayGas eurobonds.

KazTransGas is currently rated one notch below the Kazakhstan sovereign rating (BBB/stable).

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