/KASE, October 3, 14/ – Kazakhtelecom JSC (Astana), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter
informed KASE of the following:
quote
International rating agency Standard&Poor's has reviewed the outlook on ratings
of Kazakhtelecom JSC from "Stable" to "Positive" and affirmed its long-term
rating at level "ВВ". At the same time the rating agency increased the Company
rating on the national scale from "kzA" to "kzA+".
According to the press-release of the rating agency, the improved outlook
follows the approval of the new strategy for development of the mobile business,
which is considered as a sign of improved corporate governance at Kazakhtelecom.
The agency says that the "positive" forecast reflects the probability of an
increase in the Company rating within the next 12-18 months in case the Company
continues to follow the adopted strategy on capital expenditures maintaining the
current levels of leverage and liquidity.
Standard&Poor's also pointed out strong positions of Kazakhtelecom JSC on
the fixed line communications market in Kazakhstan, the stable "pillow" of
liquidity, supposed to be used for funding capital expenditures over the next
few years, moderate level of debt burden maintaining a sustainable balance.
unquote
The report of agency Standard&Poor's of October 2, 2014 in English provided by
Kazakhtelecom JSC is available on KASE website at
http://www.kase.kz/files/emitters/KZTK/kztk_reliz_021014.pdf
[2014-10-03]