Fitch Affirms City of Astana at ?BBB-?; Off RWN; Assigns Negative Outlook
19:08, 8 June 2009
LONDON/MOSCOW. June 8. KAZINFORM. Fitch Ratings has today affirmed the Kazakh City of Astana?s Long-term foreign currency rating at ?BBB-? and its Short-term rating at ?F3?, and removed both ratings from Rating Watch Negative (RWN). Fitch has simultaneously assigned a Negative Outlook to the Long-term foreign currency rating.
The rating action reflects Fitch?s affirmation of Kazakhstan?s Long-term foreign currency Issuer Default Rating (IDR) at ?BBB-?, its Long-term local currency IDR at ?BBB?, and Short-term foreign currency IDR at ?F3? on 5 June 2009. Fitch removed all the ratings from RWN and assigned a Negative Outlook to the Long-term IDRs. (For further information, please see the 5 June 2009 commentary, entitled ?Fitch Affirms Kazakhstan; off Rating Watch Negative; Assigns Negative Outlook?, which is available on the agency?s public website, www.fitchratings.com).
Fitch has also affirmed the City of Astana?s Long-term local currency rating at ?BBB-? and its National Long-term Rating at ?AA(kaz)?. The Outlooks for both ratings are Stable; the agency's press release reads.