Moody's affirmed the credit rating of KazMunayGas at Baa2, the outlook was revised from stable to positive

On December 13, 2023, the international rating agency Moody's Investors Service (Moody's) affirmed the long-term issuer rating, senior unsecured rating and rating of the medium-term bond program of JSC NC KazMunayGas (KMG) at the level of Baa2. The forecast has been revised from “stable” to “positive”.

The positive outlook on KMG's rating reflects Moody's view on the sustainability of the company's standalone creditworthiness indicators.

Thus, KMG’s credit rating is equivalent to the sovereign credit rating.