Moody's set conditions Kazakhstan is to meet for rating

International rating agency Moody’s will up the sovereign credit rating of Kazakhstan in case it achieves a greater diversification of the economy and enhancement of banking regulation, RIA Novosti reports.The country’s rating is currently Baa2 "Stable”. The agency said that for the rating increase further it needs to further strengthen the state institutions, particularly those accountable for control and regulation of banking activities, successfully restructure the banking sector, ensure further growth of international reserves and successfully diversify its economy.Decrease in the volume of international reserves, deterioration of the banking sector and political uncertainty may have a negative effect on the sovereign credibility of Kazakhstan.