Fitch Ratings upgrades KazMunaiGas rating to BBB

KazMunaiGas’s long-term rating was upgraded, Tengrinews.kz reports citing the press-service of KazMunaiGas, a national company of Kazakhstan.“Fitch Ratings agency has upgraded KazMunaiGas’ long-term foreign currency Issuer Default Rating (IDR) to BBB with a Stable Outlook. Fitch has also upgraded KazMunaiGaz Finance Sub B.V.'s foreign currency senior unsecured rating to 'BBB',” the press-service writes.According to the press-service, this continues the Agency’s upgrades of Kazakhstan’s long-term foreign currency Issuer Default Rating (IDR) to 'BBB+' from 'BBB' and Long-term local currency IDR to 'A-' from 'BBB+'. The Outlooks are Stable.Fitch Ratings is the international rating agency dedicated to providing value beyond the rating through objective and balanced credit opinions, research and data.