| Fitch assigned a long-term foreign currency rating of BB and long-term local currency rating of BB+ and a short-term foreign currency rating of B to Kazakhstan Mortgage Company. The outlook on the long-term ratings is positive. The ratings reflect the companys ownership by the government, its strategic importance in the area of social housing and hence potential government support. The positive outlook reflects Fitchs expectation of capital injection from the state in case of need. The agency also noted that he resumption of explicit government support in the form of capital injections leading to improvement of companys financial position and profitability could be positive for the ratings. Kazakhstan Mortgage Company is a governments agent in the area of affordable housing provision and plays a crucial role in implementing government social housing programs for low and middle income households. |
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
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
10 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago