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Standard & Poor's affirms Kazakhstan’s sovereign credit rating at BBB-/A-3 level

Kazakhstan Materials 4 March 2023 08:15 (UTC +04:00)
Standard & Poor's affirms Kazakhstan’s sovereign credit rating at BBB-/A-3 level

The international rating agency Standard & Poor's affirmed the sovereign credit rating of Kazakhstan at the level of BBB-/A-3 and revised the outlook from "negative" to "stable" at the same time, the press service of the Republic’s Prime Minister said on Saturday, Trend reports citing TASS.

"Strong fiscal and external balances of the country’s economy are key factors supporting the rating of Kazakhstan. At the same time, presence of liquid external assets soundly supports fiscal stability of the country," the press service informed.

Fiscal and foreign balances of the country remain resilient and sufficient to ease the potential effect of declining oil exports due to temporary interruptions in operations of the Caspian Pipeline Consortium, according to the report.

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