/KASE, December 14, 2021/ – Kazakhtelecom (Nur-Sultan), whose securities
are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE
with the following press release dated December 14, 2021:
quote
International rating agency Fitch Ratings has affirmed Kazakhtelecom JSC credit
rating at BBB- (Outlook 'Stable'). Analysts of this reputable international
organization attribute the high investment level of the credit rating of
Kazakhstan's largest telecom operator to the company's dominant market
positions in all segments of the country's telecom market, healthy free cash
flow, moderate leverage and improved profitability of the business.
As a reminder, in the summer of 2020, Fitch Ratings upgraded Kazakhtelecom's
credit rating from 'BB+' to investment 'BBB-' level. In its annual report, the
agency noted that the traditional telecommunications operator of Kazakhstan has
promptly grown from a predominantly fixed-line to a diversified telecom services
provider in the country with leading positions in broadband, pay-TV and in
mobile through acquisition of control over the second- and the third-largest
mobile operators in 2018 and 2019, respectively.
"Kazakhtelecom's high ratings are driven by robust FCF – free cash flow, as well
as a moderate level of leverage and improved profitability of the company.
Kazakhtelecom's credit profile is underpinned by its leading positions in all
telecom segments of the Kazakh market: in 2020, the company's subscriber
market share was 93% in fixed voice, 74% in fixed broadband, 61% in mobile
and 33% in pay-TV services, accounting for more than 65% of the total telecom
market by revenue," the report of Fitch Ratings analysts says.
unquote
More details are available on KASE website:
-
https://kase.kz/files/emitters/KZTK/kztk_reliz_141221_1.pdf – in Russian;
-
https://kase.kz/files/emitters/KZTK/kztk_reliz_141221_eng_1.pdf – in English.
[2021-12-14]