BAKU, Azerbaijan, April 26. Standard & Poor’s (S&P) Global Ratings agency raised Kazakhstan's QazaqGaz's credit ratings from BB to BB+ with a stable outlook, Trend reports via the company's press service.
According to the agency, the national company demonstrated stable financial rates.
It is noted that the role of QazaqGaz in Kazakhstan is increasing due to the government's intention to increase the pace of gasification and switch to a green economy. As the agency said, gas is becoming an important component of energy stability in Kazakhstan, which is confirmed by an increase in gas demand by 50 percent since 2018.
Meanwhile, as Chairman of the Board of the QazaqGaz National Company Sanzhar Zharkeshov noted, the results of the assessment of the S&P international rating agency confirm that QazaqGaz is on the right track.
"The increase in the company's credit ratings indicates that the reforms of the gas industry carried out by the country's leadership are working. Investment attractiveness is increasing," he said.
The future credit rating of QazaqGaz will depend both on the company's own credibility and on the sovereign rating of Kazakhstan.
QazaqGaz National Company is the main gas company of the Republic of Kazakhstan, representing the interests of the state, both in the domestic and foreign gas market.
