KazAgroFinance says Fitch Ratings downgraded company ratings; outlook "Stable"

16.05.16 16:25
/KASE, May 16, 2016/ – KazAgroFinance (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has in an official letter informed KASE of the following: quote ... rating Fitch Ratings Ltd. downgraded the following ratings of the KAF: - Long-Term Foreign and Local Currency IDRs: downgraded to 'BB+' from 'BBB-'; Outlook Stable - Short-Term Foreign Currency IDR: downgraded to 'B' from 'F3' - National Long-term rating: affirmed at 'AA(kaz)'; Outlook Stable - Support Rating: downgraded to '3' from '2' - Support Rating Floor: revised to 'BB+' from 'BBB-' - Senior unsecured debt rating: downgraded to 'BB+' from 'BBB-' - National senior unsecured debt rating: affirmed at 'AA(kaz)' - Expected senior unsecured debt ratings: assigned at 'BB+(EXP)'/'AA(kaz)(EXP)'. unquote Said letter and press-release of Fitch Ratings dated May 11, 2016 provided by KazAgroFinance, are available on KASE website – http://www.kase.kz/files/emitters/KAFI/kafi_change_rating_130516.PDF [2016-05-16]