/KASE, December 6, 2023/ – Kcell JSC (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the
following:
quote
Joint-stock company "Kcell" ("Kcell" or the "Company") (KASE: KCEL), one of the
leading cellular operators in the telecommunications market of Kazakhstan,
announces that Fitch Ratings has affirmed the long-term issuer default rating of
Kcell JSC at "BB+", with a "Stable" outlook.
The company remains the second largest mobile operator in Kazakhstan with a
market share of about 30% at the end of the second quarter of 2023 and Kcell's
significant investments in network modernization as well as 5G deployment
should support its market position, Fitch analysts note.
At the same time, rating agency analysts believe that although Kcell is a
subsidiary of the largest telecom operator Kazakhtelecom (BBB-/Stable), it
remains an independent public company, with a large minority stake and the
desire of the parent company to manage Kcell as a separate organization with
minimal financial guarantees on its part.
unquote
This information is available on –
https://kase.kz/files/emitters/KCEL/kcel_relizs_051223.pdf
[2023-12-06]