S&P Global Ratings agency improves KMG's rating from ВВ- to ВВ with stable outlook
The S&P Global Ratings international rating agency (the Agency) has improved the long-term corporate global scale rating of KazMunayGas national company (KMG) from ‘BB- to BB’, and the national scale rating from ‘kzА’ to ‘kzA+’. The rating outlook is ‘Stable’. The stand-alone credit profile (SACP) has also been raised from ‘b’ to ‘b+’.
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JSC National Company KazMunayGas is Kazakhstan’s national operator for exploration, production, refining and transportation of hydrocarbons. 90.42% of shares of JSC NC "KazMunayGas" are owned by Sovereign Wealth Fund "Samruk-Kazyna" JSC, and 9.58% – by the National Bank of the Republic of Kazakhstan.