Baku, Azerbaijan, May 28
By Fakhri Vakilov – Trend:
KazAgro Holding of Kazakhstan promptly paid off the remaining debt on eurobonds in the amount of 179.6 million euros and got rid of possible currency risks, Trend reports with reference to the press service of the Holding.
“The exclusion of exposure to currency risks is an important component of KazAgro’s financial stability. Holding, as the main operator of state programs in the agricultural sector, must be financially sustainable itself. Without an understanding this factor, successful implementation of the tasks set by the state is impossible,” Chairman of the Management Board of KazAgro Holding JSC Yerbol Karashukeyev says.
Timely repayment of debts has a positive effect on the ratings of the Holding. Currently, KazAgro's long-term credit rating is represented by 'BBB' rating with a Positive Outlook on the Fitch Ratings scale and 'Ba1' rating with a Stable Outlook on the Moody’s Investors Service scale.
As the operator of the most important strategic agricultural development projects in Kazakhstan, the National Managing Holding KazAgro JSC provides an affordable, targeted and efficient use of state and attracted resources, by carrying out further development of the industrial, information and service infrastructure of the agro-industrial complex.
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