S&P affirmed JSC Samruk-Energy at 'BB/B', 'kzA+', outlook ‘stable’
ASTANA. KAZINFORM Standard & Poor's Ratings Services has affirmed its 'BB' long-term and 'B' short-term corporate credit ratings on Kazakhstan's JSC Samruk-Energy. The outlook is stable.
National scale rating on the company was affirmed at 'kzA+'.
Issue rating on the group's $500 million senior unsecured notes due 2017 and withdrew the '4' recovery rating on the issue was affirmed at ‘BB.’
According to S&P experts, this rating is based on strategic importance of Samruk-Energy for Kazakhstan and financial support received from the government in the past, as well as firm market positions and advantages of vertical integration.
As per the statement, positive factors include strategic position of the company as the leading supplier of electricity in the country, firm ties with the government and tax preferences, a press release of the company reads.