Kazakhstan Upgraded at Fitch to Tie Russia on Foreign Assets
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Kazakhstan’s sovereign rating was upgraded one step to BBB at Fitch Ratings as energy exports boosted the central Asian country’s assets denominated in foreign currencies.
Kazakhstan, the second-largest oil producer in the former Soviet Union, had its long-term foreign-currency rating raised from BBB-, with a positive outlook, the assessor said today in a statement. That’s the second-lowest investment grade and equals the rating of neighboring Russia, the world’s largest energy exporter.