KazTransOil says Standard & Poor’s affirmed its credit rating; outlook Stable
June 16. KASE
KazTransOil JSC (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of June 13, 2014:
International rating agency Standard & Poor’s (hereinafter – S&P) has affirmed the credit rating of KazTransOil’s (hereinafter – the Company) at level “BBB-“; outlook Stable.
S&P has affirmed the credit rating of the Company at level “BBB-“; outlook Stable. S&P when assessing the credit rating of the Company referred to the evaluation of the profile of business risks at an acceptable level, and the profile of financial risks – at moderate level.
S&P note: strong market and competitive positions, the status of major operator of pipelines in Kazakhstan, favorable structure of debts and repayment schedule, absence of debt liabilities at level of KazTransOil, adequate indicators of liquidity and considerable deposits of cash.
The Company’s credit rating reflects its financial flexibility, availability of long-term agreements with oil companies, as well as stable regulated cash flows from oil transportation.