Moody's downgraded KEGOC to "Baa2", forecast "stable"

/REUTERS, Moscow, February 27, 09/ - International rating agency Moody's downgraded rating of Kazakhstan Electricity Grid Operating Company (KEGOC) to "Baa2" from "Baa1", the forecast is stable. Today's downgrading of the company, which is under the control of Kazakhstan republic, reflects Moody's expectations that financial indicators and covenants of the company are deteriorating, followed by continuing significant investments under deteriorating financial crisis conditions in Kazakhstan and worldwide. [2009-03-02]