Fitch affirmed Samruk-Kazyna Construction's 'BB' ratings, Outlook Stable
Fitch Ratings - Frankfurt am Main - 29 September 2023 Fitch Ratings has affirmed the long-term foreign and local currency Issuer Default Ratings ("IDRs") of Samruk-Kazyna Construction JSC at 'BB' with 'Stable' outlook.
The affirmation of the ratings reflects the agency's unchanged assessment of the factor of support from the state in relation to Samruk-Kazyna Construction, taking into account the functions performed by the company and the powers assigned to it. The operating environment in which the company operates continues to expose the company to sudden changes in operating income and operating expenses. The company's debt is declining, which has prompted an upward revision of its stand-alone credit assessment from "b" to "b+".