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Baiterek Holding offers a range of investment products to the world's most impressive and forward-looking investors.
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Baiterek Holding offers a range of investment products to the world's most impressive and forward-looking investors.
Sustainable Fitch affirms Baiterek Holding's ESG rating at '3'
Sustainable Fitch, the international rating agency, has affirmed Baiterek National Management Holding’s ESG rating at ‘3’ and raised its score from ‘57’ to ‘59’. This increase highlights the Holding’s successful integration of sustainability principles into its development strategy and its adherence to international disclosure standards.
The agency's report emphasizes that while Baiterek Holding has made progress, further improvements are needed in its long-term ESG goals and the transparency of environmental indicators. Baiterek Holding, a 100% state-owned institution, plays a pivotal role in Kazakhstan's socio-economic development. The Holding encompasses seven subsidiaries and supports various sectors, including micro, small, medium-sized, and large businesses, export operations, venture capital, agriculture, and housing finance.
In 2023, the Holding's subsidiaries significantly increased funding for green projects, such as the development of renewable energy sources, water optimization, and the promotion of environmentally friendly transport. Additionally, the Holding is focused on reducing resource consumption and minimizing its environmental impact. It has implemented an environmental management system certified under ISO 14001:2015.
Baiterek Holding also contributes to the country’s social welfare by advancing socio-economic development. In 2024, it became a member of the UN Global Compact and introduced a human rights policy.
The Holding’s governance structure includes a board of directors with 10 members, three of whom are independent. A robust risk management system, a clear division of responsibilities between the board of directors and the management board, and anti-corruption measures ensure high standards of management.
Baiterek National Management Holding is committed to continuous improvement in line with ESG principles and will continue to support long-term sustainable development goals.
Background information:
Sustainable Fitch is an international agency that evaluates organizations’ sustainable development efforts. The ESG rating reflects the organization's environmental, social, and governance performance and its contribution to a sustainable future.
Fitch Affirms Baiterek at 'BBB' Outlook Stable.
On October 22, 2024, Fitch Ratings has affirmed JSC National Management Holding Baiterek's Long-Term Foreign- and Local-Currency Issuer Default Ratings at 'BBB' with Stable Outlooks.
The confirmation of the rating reflects the financial stability of the «Baiterek» Holding, as well as its status as a national managing company acting as a state development institution and playing an important role in the implementation of the state's economic policy.
On October 26, 2023, Fitch Ratings has affirmed JSC National Management Holding Baiterek's Long-Term Foreign- and Local-Currency Issuer Default Ratings at 'BBB' with Stable Outlooks. The affirmation reflects Fitch's expectations of the Kazakhstani government's (BBB/ Stable /F2) continuing strong ability and willingness to provide support to Baiterek.
On November 2, 2022, Fitch Ratings has affirmed JSC National Management Holding Baiterek's Long-Term Foreign- and Local-Currency Issuer Default Ratings at 'BBB' with Stable Outlooks.
On November 3, 2021, Fitch assigned Baiterek Holding BBB rating with stable outlook. This is a non-rating action commentary.
On december 30, 2020, Fitch Ratings affirmed the ratings of «Baiterek» NMH» JSC - «BBB», the forecast is Stable.
According to the results of the review dated October 26, 2020, the rating of «Baiterek» NMH» JSC is at the «BBB» level, the forecast is «Stable».
On December 30, 2019, Fitch Ratings confirmed the ratings of "Baiterek" NMH" JSC - "BBB", the forecast is "Stable", F2.
On May 2, 2019, Fitch Ratings affirmed the ratings of "Baiterek" NMH" JSC, Kazakhstan: long-term issuer default ratings (IDR) in foreign and national currency at BBB, national long-term “AAA (kaz)” rating and short-term foreign currency IDR at “F2”. The outlook on the long-term ratings is Stable.
On May 4, 2018 Fitch Ratings affirmed the ratings of "Baiterek" National Managing Holding" Joint-Stock Company (hereinafter referred to as "Baiterek" NMH" JSC, Holding), Kazakhstan: long-term issuer default ratings (IDR) in foreign and national currencies at BBB, national long-term “AAA (kaz)” rating and short-term foreign currency IDR at “F2”. The outlook on the long-term ratings is Stable.
On May 5, 2017, Fitch has confirmed «BBB/stable» in foreign currency (consistent with the sovereign rating). The outlook for long-term ratings is - «Stable».
On May 6, 2016 following the decrease of long-term IDR of the Republic of Kazakhstan in foreign currency, Fitch Ratings lowered long-term «ВВВ+» to «BBB», long-term IDR in national currency has been lowered from «A-» to «BBB», national long-term «AAA(kaz)» has been confirmed, as well as short-term «F2» in foreign currency. The outlook for long-term ratings is - «Stable».
On July 13, 2015 Fitch Ratings has confirmed issuer ratings: long-term IDR at «BBB+» in foreign currency, long-term IDR at «A-» in national currency, national long-term «AAA(kaz)» and short-term IDR at «F2» in foreign currency. The outlook for long-term ratings is - «Stable».
On July 14, 2014 Fitch Ratings has affirmed a «BBB+» long-term issuer default rating (IDR) in forgeign currency, long-term «A-» in national currency and short-term «F2» in foreign currency. The outlook for long-term ratings is - «Stable».
On September 11, 2024, the international rating agency Moody's Investors Service upgraded the long-term rating of JSC NUH Baiterek from "Baa2" to "Baa1" after the Sovereign ratings were upgraded. The forecast for the long-term ratings of the Holding, as well as the forecast for the issuer, is set at the "stable" level in accordance with the Sovereign Rating.
On October 31, 2023, The international rating agency Moody's Investors Service has affirmed the long- and short-term issuer rating of Baiterek NMH JSC at Baa2/Prime-2, with an improved outlook to Positive.
The outlook for the issuer has improved in accordance with the sovereign rating of the Republic of Kazakhstan. According to the agency, the holding plays an important role in promoting the economic development of the country, is a key channel for the implementation of state programs and has a stable position due to 100% belonging to the government of the Republic. It should be noted that on October 26, 2023, another international rating agency Fitch Ratings confirmed the long-term rating of JSC «NUH «Baiterek» at the level of «BBB» with a Stable outlook.
On April 4, 2023, the international rating agency Moody's Investors Service posted an updated credit analysis of JSC «NMH «Baiterek» on the official website.
On April 12, 2022, the international rating agency Moody’s Investors Service affirmed the ratings of Baiterek NMH JSC at Baa2. The outlook on the long-term ratings of the Holding, as well as the outlook on the issuer, remains at the «stable» level in accordance with the Sovereign rating.
On August 17, 2021, Moody’s Investors Service upgraded Baiterek NMH JSC’s long-term issuer ratings from «Baa3» to «Baa2» and short-term issuer ratings from «P-3» to «P-2» following the sovereign ratings upgrade. The outlook on the Holding’s long-term issuer ratings as well as issuer outlook are «stable» in line with the sovereign.
11 march 11, 2021, the international rating agency Moody’s Investors Service confirmed the long-term rating of the Holding at the level of “Baa3”, the forecast is “Positive”.
According to the results of the review of August 6, 2020, the rating of “Baiterek” NMH JSC at the level of “Baa3”, the forecast is “Positive”.
According to the results of the review of June 1, 2020, the rating of “Baiterek” NMH JSC at the level of “Baa3”, the forecast is “Positive”.
According to the results of the review of February 14, 2020, the rating of “Baiterek” NMH JSC at the level of “Baa3”, the forecast is “Positive”.
On August 21, 2019, Moody’s Investors Service international rating agency has revised the Holding’s long-term rating forecast from “Stable” to “Positive”.
“Baiterek” NMH JSC Ratings reflect sovereign ratings of Kazakhstan. According to Moody’s, “Baiterek” Holding is a financial lever of the Government of the Republic of Kazakhstan and plays a major role in promoting economic development of Kazakhstan.
According to the reviews dated of April 2, 2018, September 17, 2018 and February 19, 2019, the rating of “Baiterek” NMH JSC at the level of “Baa3”, the forecast is “Positive”.
On October 4, 2017, Baiterek” NMH JSC was rated “Baa3”, on global ratings by the international rating agency Moody’s Investor Service, the outlook is - “Stable”. National long-term “Aaa.kz” was affirmed as well
On August 11, 2017, Standard & Poor's withdrew all ratings of the issuer at its request. Prior to the withdrawal, Standard & Poor’s confirmed the holding's long-term and short-term credit ratings for liabilities in foreign and national currencies at «ВВ-/В».
On June 30, 2017, S&P has lowered issuer’s default rating to «ВВ-/В». The outlook is – «Negative».
On July 30, 2016, Standard & Poor's has confirmed issuer’s ratings: «ВВ+/B» counterparty credit rating in foreign and national currency, as well as national «kzAA-». The outlook is – «Negative».
On February 24, 2016, following the decrease in sovereign credit ratings of the Republic of Kazakhstan, Standard & Poor's has lowered issuer’s counterparty credit ratings in foreign and national currency from «ВВВ-/А-3» to «ВВ+/B», », as well as national «kzAA+» to «kzAA». The outlook is – «Negative».
On July 10, 2015, Standard & Poor's has lowered issuer counterparty ratings in national and foreign currency from «ВВВ/А-2» to «ВВВ-/А-3», as well as national «kzAA+» to «kzAA». The outlook is – «Negative». The lowering is related to changes in the assessment of the likelihood of state support.
On February 12, 2015, following the decrease of sovereign ratings in Kazakhstan, Standard & Poor’s lowered long-term credit ratings in national and foreign currency from «ВВВ+» to «ВВВ». At the same time, short-term issuer default ratings in foreign and national currency have been confirmed at «А-2». The outlooks is – «Negative». National «kzAAA» has been lowered as well to «kzAA+». Issuer ratings are consistent with sovereign ratings of the Republic of Kazakhstan.
On August 13, 2014, the "Baiterek" NMH" JSC was rated «ВВВ+/А-2» in counterparty ratings in national and foreign currency by Standard & Poor's, as well as «kzAAA» in national ratings. The outlook is – «Negative».
