/KASE, May 13, 2019/ – KazTransGas (Nur-Sultan), whose bonds are officially
listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the
following:
quote
On April 30, 2019 international rating agency S&P Global Ratings (hereinafter –
S&P) affirmed long-term corporate credit ratings of KazTransGas at "ВВ". The
outlook on ratings – "Stable". Outlook "Stable" on KTG reflects the similar
forecast on the rating of National company "KazMunayGaz" (hereinafter – the
Shareholder). At the same time, S&P analysts anticipate that KTG will be in a
position to fund its investment program with internally generated cash flows. As
a result, they assess KTG's stand-alone credit profile (SACP) at 'bb'.
Thus, the outlook on KTG's rating caused a similar rating action with regard to
the Shareholder, since subsidiaries cannot have a rating higher than the rating
of the parent company, because there are no effective mechanisms for protection
from potential negative intervention of the Shareholder.
unquote
More details are available on KASE website –
http://kase.kz/files/emitters/KZTG/kztg_confirmation_rating_300419_1139.pdf
[2019-05-13]