Moody's: Kazakhstani GRIs to positive

Moody's Investors Service said it changed the outlook on the Baa3 ratings of seven corporate government-related issuers operating in the oil and gas sector to positive from stable, namely KazMunayGas NC JSC and its subsidiaries Kazmunaigas Exploration & Production, KazMunaiGaz Finance Sub BV, JSC KazTransOil, JSC KazTransGas, Intergas Central Asia and Intergas Finance BV.

Moody's also changed to positive from stable the outlook on the Baa3 rating of the country's railway transportation company JSC National Co. Kazakhstan Temir Zholy, Kazakhstan Temir Zholy Finance BV and on the Ba1 corporate family rating and Ba1-PD probability of default rating ratings of its fully owned subsidiary JSC Kaztemirtrans.

Concurrently, Moody's affirmed these ratings.

The outlook on the Baa3 ratings of JSC Kazatomprom and Kazakhstan Electricity Grid Operating Co. remained unchanged at stable.

Moody's said the actions follow its Aug. 16 revision of the outlook for Kazakhstan's sovereign ratings to positive from stable.

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