/KASE, November 9, 2026/ – Kcell JSC (KASE ticker – KCEL) announced the following:

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Kcell JSC ("Kcell" or the "Company") (KASE: KCEL) reports that Fitch Ratings has bumped up Kcell's Long-Term Issuer Default Rating (IDR) from 'BB+' to 'BBB−' with a 'Stable' Outlook.

This marks the first time the Company's credit rating has broken into investment- grade territory on the Fitch scale.

The upgrade reflects the Company's robust market position, positive operational momentum, and moderate leverage profile.

A key driver behind the upgrade was analysts racking up their assessment of the parent support framework from Kazakhtelecom JSC (part of the Samruk-Kazyna group). Fitch highlights Kcell's high strategic importance to the parent group. The Company brings in over 40% of consolidated group revenue, with the mobile segment viewed as a primary engine to drive future growth. Fitch also looks favorably on the tightening financial ties between the entities, which back up Kcell's extensive upgrade program through corporate debt guarantees and the locking down of capital required for its execution.

Consequently, Fitch rates the linkage between Kcell and Kazakhtelecom JSC as strong enough to align Kcell's credit rating with its parent's consolidated credit profile ('BBB-').

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The full version of the press release in Russian is available at – see more

The full version of the press release in English is available at – see more

[2026-11-09]