The ratings of JSC OC "KazMunayGas" are affirmed at "BB + / kzAA-"; the forecast is "negative".
Edited by Rhod Mackenzie / 2015-11-16 06:47:40
Finance Kazakhstan Oil and Gas Ratings Kazakhstan Oil and Gas Gas KazMunayGas Oil Production and Refining
We have revised the estimate of financial risk profile of JSC OC "KazMunayGas" (KMG) from "characterized by high levels of leverage" to "aggressive" because we forecast improvement in the debt load after the completion of the sale of 50% stake in the Kashagan field, the website informs.
Ratings Services Standard & Poor's confirmed the long-term corporate credit rating on Kazakhstan state vertically integrated oil company JSC OC "KazMunayGas" (KMG) and its "core" subsidiary JSC "KazMunaiGas Exploration Production" at the level of "BB +". The outlook remains "negative".
