Fitch rates Kazakhstan Engineering BBB-, BBB

Fitch Ratings said it assigned JSC National Co. Kazakhstan Engineering long-term foreign currency and local currency issuer default ratings of BBB- and BBB, respectively.

Fitch also assigned foreign and local currency senior unsecured ratings of BBB- and BBB, respectively, and a short-term foreign currency issuer default rating of F3.

The outlooks on the long-term issuer default ratings are table.

Fitch said Kazakhstan Engineering's ratings are based on Fitch's Parent Subsidiary Linkage methodology and are notched down two notches from the rating of Kazakhstan Engineering's ultimate 100% shareholder, the Republic of Kazakhstan.

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