Fitch has affirmed the rating of KazTransOil at "BBB-", forecast is negative

/IRBIS, December 14, 09/ - Fitch Ratings affirmed the long-term issuer default rating (IDR) KazTransOil at "BBB-" from Negative Outlook and Short-term IDR "F3", - stated in the report issued by the agency on December 11. As indicated in the message, the prognosis for long-term IDR is currently hampered by "negative" outlook on the sovereign rating. "Fitch views the rating outlook WHO as an independent company as stable as the pressure on the creditworthiness of the company decreases after early repayment in 2009, half of the additional attraction in 2008, the debt for the acquisition of the port of Batum. In addition, in 1 half of 2009, WHO continues to generate stable and strong cash flow, despite the global economic crisis. In addition, rapid increase of oil transportation through the completed section of the Kazakhstan- China pipeline in 2006-2008. and the expected growth in the next three years to support ability of the Kazakh-Chinese joint venture Pipeline (SP CCP), a joint venture of WHO, to generate funds for the payment of the debts. According to Fitch, the above factors support the stable outlook for the WHO, if we consider the Company individually", - stated in the message. For more detailed info read the Russian version. [2009-12-14]