Moody’s might lower KazExportGarant

Moody's Investors Service said it placed the Baa2 insurance financial strength rating of KazExportGarant JSC on review for downgrade.

This action follows a similar action taken on the government of Kazakhstan, which was placed on review for downgrade on March 4, and is part of a global review of oil-exporting sovereigns.

KazExportGarant is 100% owned by the Government of Kazakhstan through the National Management Holding Baiterek.

The primary driver of the action on KazExportGarant is the potential deterioration of the government of Kazakhstan's credit worthiness, that was signaled by the review for downgrade placed on its rating, Moody’s said.

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