Moody's reviews FCC

Moody's Investors Service said it placed the Ba3 corporate family and probability-of-default ratings and the bond rating Ba3 of JSC National Co. Food Contract Corp. under review for downgrade.

The decision was prompted by the fact so far the Kazakh government did not come through with an expected increase of FCC's capital by $122 million, which would have been necessary to stem the near term risk of a possible breach of covenants, the agency 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.