Moody’s rated Astana on Baa3 level with “Stable” forecast

June 19.

Moody's rated Astana on Baa3 level with “Stable” forecastInternational rating agency Moodys Investors Service affirmed the ratings of Astana on the international scale of foreign and local currencies, following the results of  2012 at Baa3 level  with a “stable” forecast, as it is reported by  the press service of the capital akimat.

This rating is of the category of “investment” and is on the same level with such cities as Barcelona, Istanbul, Madrid, Riga, and one level below  Milan city.

Against the background of the observed trend of lower credit ratings of individual countries and cities around the world, indicators of socio-economic situation and the financial and credit situation of Astana city allowed to hold the position in the Moodys rating table.

Rating of the city is supported by  improvement  in the operating balance and stable low rates of financial deficit, increase of  own revenues of the city budget, due to the dynamism and diversification of the city economy and a high potential for its further growth. Low debt burden is also an important positive factor, which influences the high rating of the city.

The rating assigned to Astana is one stage below the rating assigned to the Republic of Kazakhstan – Baa2.