Fitch lifts Kazakhstan

Fitch Ratings said it upgraded Kazakhstan's long-term foreign currency issuer default rating to BBB+ from BBB and upgraded its long-term local currency issuer default rating to A- from BBB+.

The outlooks are stable.

The agency said it also upgraded the country ceiling to A- from BBB+ and upgraded the short-term foreign currency issuer default rating to F2 from F3.

Fitch said the upgrade reflects the continued strengthening of Kazakhstan's sovereign external balance sheet, low level of government debt and healthy growth prospects, as well as tentative steps towards cleaning up the banking system.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.