Nur- Sultan August 09, 2019
International rating agency Fitch Ratings confirmed the rating of KazTransGas JSC (hereinafter – KTG) and its subsidiaries at the level of BBB -. The Outlook is “stable”.
“The affirmation of the ratings reflects our view that KTG’s self-standing creditworthiness has improved significantly amid an increase in the share of profits from exports to China following the conclusion of a 5-year contract with Petro China International Company in 2018. KTG’s business profile is underpinned by the company’s dominant position in the gas transportation and distribution segment in Kazakhstan, and additional exports provide diversification in the emerging regulatory environment within the country and will support the decline in leverage and stronger financial profile in 2019-2021. As a result, the assessment of independent creditworthiness of KTG increased from the level of “bb” to the level of “bbb-“, – reports Fitch Ratings.
KTG rating can be increased by increasing the rating of JSC ” NC “KazMunaiGas” (KMG) while maintaining strong ties with KTG or strengthening the Autonomous credit profile of KTG.
“Confirmation of the ratings of KazTransGas Aimak and Intergas Central Asia reflects the assessment of the relationship between KTG and its 100 percent subsidiaries as strong, which determines the ratings of these subsidiaries at the same level with KTG ratings,” the information says.
KazTransGas JSC is the national operator of Kazakhstan in the field of gas and gas supply. The group of JSC “KazTransGas” includes extracting, transporting and selling gas and products of its processing enterprises and organizations.
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