09/23/2024
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On May 2, 2019, Fitch Ratings international rating agency has affirmed a long-term foreign and national currency rating at BBB, national long-term AAA (kaz) and short-term foreign currency F2 to “Baiterek” National Managing Holding” JSC. The outlook for long-term ratings is Stable.
Fitch also affirmed the senior unsecured domestic debt ratings of Baiterek Holding at BBB/AAA (kaz) levels.
In accordance with the rating methodology of companies associated with the state, Fitch considers Baiterek as having a strong relationship with Kazakhstan (BBB/Stable Outlook) and assesses the likelihood of government support for the company as high.
- Based on our assessment of the degree of communication and incentives to provide public support, the agency applies a top-down approach, which, regardless of the holding’s independent creditworthiness, determines Baiterek’s ratings at the same level as sovereign ratings, - it is said in the message of the rating agency.
Reference:
Fitch Ratings, along with Standard & Poor’s and Moody’s, is one of the “big three” international rating agencies. The main task is to provide the world credit markets with independent and prospective-oriented credit ratings, analytical studies and data.