Moody's on Oct. 4 assigned Baa3 long-term and P-3 short-term local- and foreign-currency issuer ratings to Kazakhstan-based JSC Baiterek National Management Holding, with a stable outlook.
The agency also assigned Aaa.kz national scale issuer rating to the firm, through which the Kazakh government provides financial support to non-oil sectors.
The ratings reflect Baiterek's important role in promoting the country's economic development and its significant integration with the government. The agency believes that the government is likely to provide financial support to the company if needed.
The outlook mirrors the outlook on the sovereign bond rating and reflects the company's links with the Kazakh government.