Moody’s Investors Service international rating agency upgrades the credit rating of KMG on a standalone basis to Ba2, long-term rating affirmed at Baa3 with outlook changed from stable to positive

On 22 August 2019 the Moody’s Investors Service international rating agency upgraded the credit rating of JSC NC “KazMunayGas” (the Company) on a standalone basis without regard to the support from the Kazakh government from ba3 to ba2, reflecting the improvement in its credit metrics, including reduced leverage and increased interest coverage. Furthermore, the Company's long-term rating has been affirmed at Baa3, with the outlook changed from stable to positive, in view of the updated outlook for long-term sovereign credit rating (Baa3).