Standard &Poor’s international rating agency affirmed Kazakh electricity company “Samruk-Energy” JSC “ВВ/В” and “kzA+” ratings ;outlook stable.
December 15, 2015 one of the leading world rating agencies “Standard & Poor’s” affirmed credit ratings of Kazakh electricity company “Samruk-Energy” JSC: “BB” long-term credit rating and “B” short-term credit rating. Rating outlook – “Stable”.
Standard &Poors affirmed “KzA+” Kazakhstan national scale rating on the company. Also the agency affirmed “BB” issue rating on the USD 500 mln. senior unsecured notes due December 2017.
Standard & Poor's experts noted that that the assessment is supported by the strategic importance of "Samruk-Energy" for the government and receiving a significant financial support from the Government of the Republic of Kazakhstan in the past, as well as strong market positions and the advantages of vertical integration.
According to the information, the positive factors include the company's strategic position as a leading provider of electricity in the country, very strong ties with the government and tax benefits.
"Samruk-Energy" JSC is a holding company that manages power and coal enterprises in the Republic of Kazakhstan. The Company comprises largest power generating companies, including power plants of national importance; power plants producing heat and electricity in the region; major hydropower plants of the Republic; regional distribution networks and sales companies.
The total installed capacity at the end of 2014 was 7959 MW, or 38% of the total installed capacity of power plants of Kazakhstan’s UPS