KEGOC says agency Standard & Poor's affirmed long-term credit rating of company at "BB+"; outlook Positive

/KASE, November 7, 14/ – Kazakhstan Electricity Grid Operating Company "KEGOC" JSC (Astana, in the heading – KEGOC), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), today provided KASE with the following press-release: quote ... one of the leading international agencies Standard & Poor's upgraded its outlook on KEGOC rating to "Positive" from "Stable", affirming the long-term credit rating of the Company at "ВВ+". "Positive" outlook means that KEGOC rating may be upgraded within the next 12 months. The outlook was revised due to analysts' expectations regarding possible improvement of financial indicators of KEGOC in 2015 following the increase in tariffs, which will boost the Company's capability to manage financial risks. The agency's experts also point out an extremely high probability of comprehensive and urgent financial aid to the Company from the government, since KEGOC has very tight relations to Kazakhstan's government and pays a very important role as a monopolistic service provider in the power transmission industry. We remind you that KEGOC has credit ratings of investment rank with a "Stable" outlook from leading international rating agencies Moody's and Fitch. With this in mind, according to Fitch, KEGOC was assigned a rating at the level of Kazakhstan's sovereign rating (BBB+), i.e. according to the agency's experts, KEGOC today is as reliable as Republic of Kazakhstan. unquote [2014-11-07]