Fitch affirms KazMunaiGas Exploration Production (Kazakhstan) ratings and withdraws them
June 1. KASE
Fitch Ratings has affirmed and simultaneously withdrawn JSC KazMunaiGas Exploration Production’s (KMG EP) Issuer Default Ratings (IDR) as follows:
Long-term foreign currency IDR: affirmed at ‘BBB-‘/ Stable Outlook and withdrawn
Long-term local currency IDR: affirmed at ‘BBB-‘/ Stable Outlook and withdrawn
Short-term foreign currency IDR: affirmed at ‘F3’ and withdrawn.
The ratings are no longer considered by Fitch to be relevant to the agency’s coverage.
KMG EP is Kazakhstan-based upstream oil and gas producer, which is majority-owned by state-controlled KazMunaiGaz National Company (‘BBB-‘/Positive).