Kazakhstan Railways talks reason for revocation of its subsidiary’s rating by Moody's
Baku, Azerbaijan, July 25
Moody's has revoked the rating of Kaztemirtrans JSC for its own reasons in order to comply with the internal policy of the rating agency, JSC "NC "KTZ"” (Kazakhstan Railways) said in a statement July 24.
"In accordance with the internal policies of Moody's, in cases where the parent company acts as the guarantor for the obligations of a subsidiary of the company with a vertically integrated structure of activities, it is sufficient to assign the rating to the parent company-the guarantor", the message says.
The financial status of "Kaztemirtrans" JSC is stable at the present time. Its rating is at “BB-“ level with a "stable" outlook according to the data provided by Standard & Poor's agency.