Fitch Ratings upgraded Kcell’s long-term credit rating from “BB+” to “BBB−” with a Stable outlook, the company said.
Kcell’s rating has reached investment grade on Fitch Ratings’ scale for the first time. The agency cited the company’s stable market position, positive operating trends and moderate debt burden.
One factor behind the upgrade was Fitch’s stronger assessment of support for Kcell from its parent company, Kazakhtelecom, which is part of the Samruk-Kazyna group. The agency noted Kcell’s strategic importance to the group.
