KazTransOil (Kazakhstan) says Standard & Poor’s affirmed its credit rating
July 10. KASE
JSC “KazTransOil” (Astana), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release:
On July 5, 2013 International rating agency Standard & Poor’s (hereinafter – S&P) affirmed the credit rating of JSC “KazTransOil” (hereinafter – the Company) at level “ВВВ-“; outlook “Stable”.
S&P points out the important role of the Company to Kazakhstan’s economy and assesses the probability of provision of urgent government support to the Company as high. The Company’s credit rating reflects the market and competitive position, positive impact of long-term agreements with oil companies, stability of regulated cash flows from the oil transportation.
In S&P’s opinion, the Company’s key role in the group of JSC “NC KazMunayGaz” and its strategic meaning to the government of the Republic of Kazakhstan is supported by the fact that the Company is the main operator of oil pipelines in the Republic of Kazakhstan.