Kazakhtelecom says agency Fitch Ratings upgraded credit rating of the company to BBB-, outlook "Stable"

25.06.20, 15:53
/KASE, June 25, 2020/ – Kazakhtelecom (Nur-Sultan), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the following: quote The international rating agency Fitch Ratings upgraded the credit rating of Kazakhtelecom JSC to BBB- (outlook "Stable") from BB + (outlook "Positive"). According to the agency's report, the rating increase reflects the strengthening of the company's market position after the acquisition of a 75% stake in Kcell JSC at the end of 2018 and the remaining 49% stake in a joint-venture with Tele2 (Tele2/Altel JV) in mid-2019, as well as strong financial performance of the company, stabilization of the debt load and improved liquidity. According to the agency's analysts, the leading telecommunications operator of Kazakhstan has so far successfully gone from a company that provided primarily only fixed telephony services to a provider of a wide range of telecommunications services with leading positions in the field of broadband access, mobile communications and pay TV. unquote More details are available on KASE website – https://kase.kz/files/emitters/KZTK/kztk_reliz_250620_en.pdf [2020-06-25]