Fitch has granted to KazTransGaz Aimak BB+ with stable forecast
Fitch has granted to KazTransGaz Aimak (KTG Aimak) the long term issuer default rating of BB+ in foreign currency with stable forecast.
KTG Aimak is the state Kazakh company holding a near monopoly place in the internal gas transporting and distribution market. The company’s ratings are bound to the rating of its direct parent company KazTransGaz (KTG, BB+ , stable forecast) and reflect dominance of KTG Aimak and strong strategy and operational connections with KTG, the national gas operator in Kazakhstan.
KTG Aimak is an important part of KTG strategy. Now KTG Aimak cary's out the the broadening and upgrading of its gas network in the state. Fitch also concerns in the company’s ratings the growing leverage, the risks connected with the consumers’ payments and the existing regulatory mechanisms being at the developing level.