Moodys upgrades outlook on Kazakhstan sovereign rating to stable.

By bne IntelliNews April 7, 2010
Moodys moved the outlook on Kazakhstans Baa2 sovereign rating to stable from negative. The agency considers that the Kazakh government has weathered the worst of the crisis in a way consistent with an investments grade rating by protecting its creditworthiness but forcing credit restructuring on to the countrys banking system. At the same time, Moodys lowered the countrys foreign currency bond ceiling by one notch to Baa2 (the same level as the sovereign rating), while the FC bank deposit ceiling was kept at Ba1. This was reasoned by the fact that crisis management in Kazakhstan focuses primarily on protecting the government's balance sheet, according to Moodys. The agency summoned that overall, the Kazakh governments fiscal conservatism has persisted alongside a proactive crisis management framework and this has enabled authorities to withstand financial shocks, without depending on external assistance or damaging long-term sovereign credit fundamentals.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Kazakhstan in talks with McDonald's.

Kazakhstan is in talks over McDonald's enter to the Kazakh market, President of the Eurasian Franchising Association, Beknur Kissikov has said. He added that the main reasons that McDonald's is ... more

Kazakhstan to establish institute for energy and energy effectiveness.

Kazakhstan will establish institute for energy and energy effectiveness, deputy PM and Minister of Industry and New technologies Aset Isekeshev has informed. The new entity should start operating ... more

Kazakhstan to diminish oil products imports from Russia.

Kazakhstan plans to diminish oil products imports from Russia, according to Kuandyk Kulmurzin Director of oil industry development department in Oil and Gas Ministry. He explained that the reason ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. UBN: The US Needs to Wake Up
    6 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss