/KASE, September 10, 14/ – National atomic company "Kazatomprom" JSC (Astana),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by
an official letter informed KASE of the following:
quote
... On September 3, 2014 Moody's Investors Service, ("Moody's") placed on
review for downgrade the Baa3 issuer rating of Joint-Stock National Atomic
Company Kazatomprom (KAP) and Baa3 senior unsecured notes issued by KAP.
The rating action reflects Moody's concerns that KAP may not be able to
maintain financial metrics within the level commensurate with its Baa3 rating
owing to weak pricing conditions in the uranium market though Moody's expects
some degree of pricing recovery over time.
The rating action also reflects KAP's refinancing need owing to the bullet
maturity of the company's $500 million Eurobonds in Q2 2015.
unquote
The press-release of agency Moody's Investors Service in Russian and English of
September 3, 2014 provided by National atomic company "Kazatomprom" is available
on KASE website at
http://www.kase.kz/files/emitters/KZAP/kzap_reliz_030914.pdf
[2014-09-10]