On 17 February 2016 Standard & Poor's (S&P) downgraded the sovereign credit ratings of the Republic of Kazakhstan to ‘BBB-‘ / A-3 with negative outlook. This has also triggered revision of ratings of several Kazakhstan companies, which S&P classifies as government related entities including KEGOC from with ‘BB +’ /negative to ‘BB’ / negative. S&P analysts believe that KEGOC still enjoys ‘very high’ probability of having timely and sufficient extraordinary support from the Government of the Republic of Kazakhstan when needed and the stand-alone credit profile of KEGOC is still estimated at ‘b +’. The negative outlook on KEGOC ratings mirrors similar outlook on the sovereign credit ratings of the Republic of Kazakhstan.
S&P revised the credit rating of KEGOC