S&P rating on KazAgro Holding goes up
Date
9/13/2017 10:11:59 AM
(MENAFN- Trend News Agency ) Baku, Azerbaijan, Sept. 13
By Ali Mustafayev – Trend:
S&P Global Ratings said on Sept. 12 that it revised its outlook for Kazakhstan's KazAgro National Management Holding JSC to stable from negative.
'We affirmed the 'BB-/B' long- and short-term foreign and local currency issuer credit ratings on KazAgro,' said S&P.
The announcement came not long after the affirmation of the 'BBB-' foreign and local currency sovereign ratings of the Republic of Kazakhstan and revision of outlook to stable from negative.
The revised outlook illustrates the improvement of the country's agriculture sector and the attention paid by the government for its further stabilization and development.
KazAgro Holding was established in 2007 by a presidential decree and remains as one of the leading companies in Kazakhstan's agriculture industry, enlisting financial support from the government.
The company's subsidiaries support the agricultural sector through a number of instruments, including leasing, providing short- and long-term lending, micro-financing, and others.
KazAgro is participating in several government projects, including the new program for development of the agricultural sector in 2017-2021.
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