S&P CONFIRMED KAZAKHSTAN'S RATING BY CHANGING THE FORECAST TO "STABLE" FROM "NEGATIVE"

/IRBIS, Dec.22, 99/ - REUTERS informs that international rating agency Standard & Poor's left Kazakhstan's ratings unchanged while changing their dynamics forecast from "negative" to "stable". Long term ratings of the country for borrowing in foreign and local currencies remain unchanged at "B+" and "B-", respectively. "Ratings of Kazakhstan are supported by a firm adherence of the government to well-minded management of the economy, structural reforms and financial stabilization", said S&P. The agency believes the policy of the country's authorities can restore the trust of the market, economic growth and deflation. The agency also says country's industrial sector and new exporting routes should be restored as well.