Co-operation with International Rating Agencies
(カザフスタンの投資環境について)
In 2005, a visit paid by analysts from three leading
international rating agencies Moody’s Investors Service, Standard & Poor’s
and Fitch Ratings Ltd to Kazakhstan resulted in two agencies confirming and one
agency upgrading the sovereign investment class credit ratings of
Kazakhstan.
In May 2005, Moody’s Investors Service confirmed the country’s
investment class credit rating as Baa3 on long-term obligations in the foreign
currency, Baa1 on long-term obligations in the national currency, and Ba1 on
bank deposits in the foreign currency. All the ratings have a positive
outlook.
In July 2005, Standard & Poor’s confirmed the country’s
investment class credit rating, assigned in 2004, as BBB- on long-term
obligations in the foreign currency, A- on short-term obligations in the foreign
currency and BBB/A-3 on obligations in the national currency. All the ratings
have a positive outlook.
On 20 December 2005, Fitch Ratings upgraded
Kazakhstan’s investment class rating, assigned in 2004, from BBB- to BBB on
long-term obligations in the foreign currency, from BBB to BBB+ on long-term
obligations in the national currency and confirmed at F3 on short-term
obligations in the foreign currency. All the ratings have a positive outlook. At
the moment, Kazakhstan’s sovereign rating is supported by strong macroeconomic
performance, progress in structural reforms, strong state finances, firm
reaction to external and internal shocks and the further development of the oil
and gas sector.
