Font size:
+A
-A
Mode:
Return to the normal mode
Switch to the mode for the visually impaired
Site Map Press center Career Contacts
ENG
Company Investors Sustainable development Procurement Sale of Petroleum Products
Company
About us Business Lines Projects
Corporate Governance
Corporate Governance Shareholders Board of Directors Management Board Corporate Secretary Ombudsman Compliance Internal Audit Service Risk Management and Internal Control Information subject to publication
Corporate documents
Investors
Investors Reporting Investor's Calendar Dividends General Meeting of Shareholders Bonds and Credit Ratings
IPO materials
IPO
Frequently Asked Questions
Sustainable development
Sustainable development
Environmental Responsibility
Environmental Management Air protection Water Management Waste management Biodiversity conservation
Social Responsibility
Social Responsibility Personnel policy Occupational Safety and Health Industrial Safety Crisis and Emergency Management for effective production management
Corporate Governance
Corporate Governance Shareholders Board of Directors Management Board Corporate Secretary Ombudsman Compliance Internal Audit Service Risk Management and Internal Control Information subject to publication
Procurement Sale of Petroleum Products
Site Map Press center Career Contacts

S&P Global Ratings has upgraded the credit rating of NC «KazMunayGas» JSC (KMG, the Company) to 'BBB-' with a stable outlook

30.06.2025

On 27 June 2025, the international rating agency S&P Global Ratings upgraded the credit rating of NC «KazMunayGas» JSC to 'BBB-' reflecting the improved standalone credit profile and financial stability, with a stable outlook. As a result, the Company's credit rating is now equal to the sovereign rating of the Republic of Kazakhstan.

KMG's standalone credit profile was upgraded from 'bb' to 'bb+' due to a significant reduction in debt, a balanced approach to dividend distributions, and returns on invested capital, which together confirm the resilience of the Company’s business model.

The stable outlook reflects expectations of KMG’s effective management of upcoming capital expenditures, in line with the company's financial policy, as well as its ability to withstand external shocks in the event of oil price volatility and other factors.

The rating upgrade is also driven by continued and enhanced government support in KMG’s operations and Development strategy in the oil and gas sector, as well as the development of a new business direction – petrochemicals.

JSC NC KazMunayGas

On 27 June 2025, the international rating agency S&P Global Ratings upgraded the credit rating of NC «KazMunayGas» JSC to 'BBB-' reflecting the improved standalone credit profile and financial stability, with a stable outlook. As a result, the Company's credit rating is now equal to the sovereign rating of the Republic of Kazakhstan.

KMG's standalone credit profile was upgraded from 'bb' to 'bb+' due to a significant reduction in debt, a balanced approach to dividend distributions, and returns on invested capital, which together confirm the resilience of the Company’s business model.

The stable outlook reflects expectations of KMG’s effective management of upcoming capital expenditures, in line with the company's financial policy, as well as its ability to withstand external shocks in the event of oil price volatility and other factors.

The rating upgrade is also driven by continued and enhanced government support in KMG’s operations and Development strategy in the oil and gas sector, as well as the development of a new business direction – petrochemicals.
>