S&P: Kazakh issuers view stable

Standard & Poor's said it revised the outlook on four Kazakh government-related companies to stable from negative. They are Kazakh Agrarian Credit Corp. (BB+/stable), Kazpost (JSC) (BB/stable), Mortgage Guarantee Fund of Kazakhstan (JSC) (BB/stable) and KazAgroGarant (BB/stable).

The action follows the revised outlook on the Republic of Kazakhstan (foreign-currency BBB-/stable/A-3; local-currency BBB/stable/A-3; Kazakhstan national scale kzAAA).

"The action reflects our view of the [companies] as important tools of Kazakh government policy and their close ties to the government," S&P analyst Boris Kopeykin said in a statement.

"We apply our top down approach when rating these entities, stepping down from the rating on the sovereign," Kopeykin said.

© 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.