Fitch Ratings on May 25 assigned BB+ long-term foreign- and local-currency issuer default ratings and AA(kaz) national long-term rating to Kazakhstan's JSC Agrarian Credit Corp.
The outlook on both ratings is stable.
The agency also assigned a B short-term foreign-currency issuer default rating and BB+ senior unsecured debt rating to the company.
Fitch took into consideration the regular state support, mainly in through capital injections, provided to the company in determining the ratings. The Kazakh government owns the company indirectly via JSC KazAgro National Managing Holding.
