/KASE, June 25, 2020/ – Kazakhtelecom (Nur-Sultan), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about
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.
More details are available on KASE website –