Fitch affirms Mangistau

Fitch Ratings said it affirmed the Kazakhstan Region of Mangistau's ratings at long-term foreign and local currency BB- and short-term B.

The long-term outlook is stable.

Fitch said the ratings reflect the region's robust economic base, strong focus on capital expenditure and current debt-free status.

At the same time, the ratings take into account the high degree of dependency on the central government for financing and regulatory decisions, the agency noted.

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