ASTANA, Kazakhstan, November 17. Moody's International has confirmed Kazakhstan's Baiterek National Management Holding JSC's long-term and short-term issuer ratings at Baa2/Prime-2, with positive outlooks, Trend reports.
The issuer's outlook has improved in line with Kazakhstan's sovereign rating.
According to Moody's, the holding plays a vital role in fostering the country's economic development, is a key channel for the implementation of government projects, and has a stable position due to the fact that it is 100 percent owned by the government of Kazakhstan.
On October 26, Fitch Ratings maintained Baiterek's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB' with stable outlooks.
On October 27, Moody's upgraded Kazakhstan's outlook from "stable" to "positive," confirming the sovereign credit rating of "Baa2."
The improved forecast reflects the agency's evaluation of ongoing reforms aimed at diversifying the economy, attracting investment, and fostering entrepreneurship.
According to agency analysts, increased resilience to economic shocks demonstrates stabilization of economic development and improved prospects for Kazakhstan.
In general, Moody's analysts predict favorable economic prospects for Kazakhstan.
Changing the outlook to "Positive" is a signal of a possible increase in the sovereign rating in the future.
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