Fitch gives KTZ notes BBB-

Fitch Ratings said it gave National Co. Kazakhstan Temir Zholy's planned benchmark-sized dollar-denominated senior unsecured notes an expected BBB- rating.

“The rating of the bond is aligned with KTZ's long-term IDR as the notes will constitute direct, unconditional, unsubordinated and unsecured obligations of KTZ and rank pari passu among themselves. As such, they rank equally with all other direct obligations of KTZ,” Fitch said in a press release.

KTZ will use the proceeds to repay its outstanding CHF 185 million 3.638% notes due 2022 and for general corporate purposes.

The outlook is stable.

© 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.