BAKU, Azerbaijan, April 27. Fitch Ratings has affirmed Kazakhstan Housing Company's (KHC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB' with a stable outlook, Trend reports citing Fitch.
According to the company, KHC's strategic importance for Kazakhstan given its role as the key housing development operator and core consolidator of the housing sector.
Furthermore, Fitch assessed the status, ownership, and control of the company as 'very strong' since the KHC is wholly owned by the state via JSC National Management Holding Baiterek, and in case of dissolution, KHC's liabilities will automatically be transferred to the state or a state-designated entity.
In addition, a 'very strong' rate is also given to the socio-political implications of the company. According to the international rating company, KHC's socio-political importance is underlined by its key role in state housing development and a lack of direct substitutes.
Fitch Ratings Inc. is an American credit rating agency and is one of the most reputable global rating agencies. The agency aims to provide business intelligence to facilitate the effectiveness of decision-making and decrease the business risks for its clients.
Kazakhstan Housing Company JSC provides mortgage lending and the provision of rental housing to individuals.
