/KASE, November 22, 2024/ – Kcell JSC (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release dated November 22, 2024:
quote
Kcell Joint Stock Company (Kcell or the Company) (KASE, KCEL) – one of the
major mobile operators in Kazakhstan's telecommunications market, announces
that the international rating agency Fitch Ratings has affirmed the current
level of Kcell's credit rating ("BB+" with a stable outlook).
According to the report of analysts, the current level of credit rating of Kcell
("BB+", outlook "Stable") is due to the company's strong position in the mobile
communications market, relatively low level of debt and significant strategic
ties with the parent company JSC Kazakhtelecom.
Analysts note that active development of 4G infrastructure and construction of
5G network entails growth of capital expenditures and capital requirements,
which affects the company's debt burden. However, the current level of net debt
to EBITDA at the level of 1.4 has a significant margin of safety. Given
analysts' expectations of further investment growth in 2025-2027, Kcell's debt
ratio may increase, but within the acceptable limit for the current rating
level.
unquote
The complete press release is available on:
-
https://kase.kz/files/emitters/KCEL/kcel_relizs_221124_kaz.pdf – in Qazaq;
-
https://kase.kz/files/emitters/KCEL/kcel_relizs_221124_1.pdf – in Russian;
-
https://kase.kz/files/emitters/KCEL/kcel_relizs_221124_eng.pdf – in English.
[2024-11-22]