Baku, Azerbaijan, Dec. 19
By Rashid Shirinov – Trend:
Moody's has changed the corporate rating forecast for Kazakhstan’s National Company Food Contract Corporation JSC to stable, Trend reports with reference to the press service of the Corporation.
According to the credit report of Moody's Investors Service, the Possible Downgrade status of the corporate rating forecast was changed to Stable.
“The stable forecast on the rating reflects Moody's expectations of the Corporation’s upcoming repayment of its bonds in December 2018, as well as a steady improvement in the company's financial profile compared to 2017 by obtaining state support through KazAgro National Management Holding,” reads the message.
This expectation considers the closer participation of the state in the management of Food Contract Corporation through KazAgro in 2018 and signs of increasing state support for the company in the context of the overall growth of support for the agricultural sector of Kazakhstan.
The main activity of Food Contract Corporation is participation in ensuring Kazakhstan’s food security, promoting stabilization of the country’s grain market and export development. The sole shareholder of the company is KazAgro National Management Holding.
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