Moody's повысило рейтинги Казахстана

/REUTERS, Нью-Йорк, 18.06.01/ - Рейтинговое агентство Moody's Investors Service повысило потолок валютных облигационных рейтингов Казахстана до "Ва2" с "В1", говорится в сообщении агентства. В связи с этим, все рейтинги, присвоенные долговым обязательствам Казахстана в иностранной валюте повышены до "Ва2". Moody's также повысило рейтинг Казахстана по банковским депозитам в иностранной валюте до "Ва3" с "В1", рейтинг долгосрочных госбумаг, выпущенных в местной валюте - до "Ва1" с "В1". Прогноз всех рейтингов - положительный. По мнению агентства, разработка Казахстаном крупных нефте- и газовых месторождений, а также начало строительства ряда нефте- и газопроводов свидетельствуют о том, что в среднесрочной перспективе республика сможет добиться значительного экономического роста. Несмотря на то, что нынешние цены на нефть могут снизиться, это будет компенсировано ростом объемов экспорта. Ниже следует оригинал сообщения на английском языке: (Press release provided by Moody's Investors Service) NEW YORK, June 18 - Moody's Investors Service today raised Kazakhstan's foreign currency ceiling for bonds and notes to Ba2 from B1. Consequently, all outstanding foreign currency bonds of the government of Kazakhstan are raised to Ba2. At the same time, Moody's raised the ceiling for foreign currency bank deposits to Ba3 from B1 and the rating for long-term local currency government securities to Ba1 from B1. All ratings carry a "positive outlook." With the development of large oil and gas deposits and initiation of a series of oil and gas pipeline projects, Kazakhstan is now poised to improve economic performance considerably over the medium- term. Although oil prices may not remain at current levels, increasing oil export volumes will offset any price declines. A special "National Fund" has been created to smooth commodity price fluctuations, mitigate budget vulnerabilities, and decrease pressure for currency appreciation resultant upon the large inflow of foreign direct investment in the energy sector. The banking system is improving: system assets have increased significantly since 1999; capital adequacy stands at 25%, while non-performing loans are minimal. Debt aggregates and ratios are modest, with intercompany borrowing (between multinational corporations and their local subsidiaries in the energy sector) playing a major role and, thereby, mitigating default risk. Public sector foreign and local currency debt are also modest (and non-resident holdings of domestic government securities are negligible). Significant foreign direct investment inflows, tight budgets, and current account surpluses in the medium-term will limit borrowing requirements and further improve debt ratios. There is room for improvement in Kazakhstan's fiscal policy and customs and tax administration. Past performance has been characterized by sizable arrears of various types, and while current reforms address many important issues, limited administrative capacity will take time to strengthen and acts as a constraining factor on the local currency rating.