Kazakhstan Electricity Grid Operating Company -- Moody's affirms the ratings of six Kazakhstani corporates; withdraws BCAs

Kazakhstan Electricity Grid Operating Company — Moody’s affirms the ratings of six Kazakhstani corporates; withdraws BCAs

Rating Action: Moody’s affirms the ratings of six Kazakhstani corporates; withdraws BCAsGlobal Credit Research – 23 Dec 2021London, 23 December 2021 — Moody’s Investors Service ("Moody’s") has today affirmed the Baa2 ratings of KazMunayGas NC JSC (KMG), JSC NC KazTransGas (KTG), Intergas Central Asia (ICA), Kazatomprom JSC (KAP) and Kazakhstan Electricity Grid Operating Company (KEGOC). Moody’s has also affirmed the Baa3 rating of the National Company Kazakhstan Temir Zholy JSC (KTZ). The outlook on these ratings remains stable. Concurrently, Moody’s has withdrawn KMG’s ba2 baseline credit assessment (BCA); KTG’s, ICA’s, KAP’s and KEGOC’s ba1 BCAs; and KTZ’s b1 BCA, because it no longer classifies these entities as Government-Related Issuers (GRI). This follows Moody’s assignment of ratings to these companies’ parent company Kazakhstan’s Sovereign Wealth Fund Samruk-Kazyna JSC (Samruk-Kazyna, Baa2 stable).Full details of the rating actions for the affected entities can be found at the end of this press release.RATINGS […]

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