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Sovereign Wealth Funds Briefing - Categorized | Financials

Depreciation of Kazakh tenge can put Samruk-Kazyna’s financials under pressure - Fitch

Posted on 12 October 2015

Fitch Ratings international rating agency has affirmed Kazakhstan-based JSC Sovereign Wealth Fund Samruk-Kazyna’s (SK) Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB+’, Long-term local currency IDR at ‘A-’, National Long-term rating at ‘AAA(kaz)’ and Short-term foreign currency IDR at ‘F2′, the message from the rating agency said Oct.9.
The outlooks on the long-term ratings are Stable. Fitch has also affirmed SK’s senior unsecured domestic bonds at Long-term local currency ‘A-’ and at National Long-term ‘AAA(kaz)’. “The affirmation of the IDRs and senior debt ratings reflects SK’s unchanged strategic importance, and its special legal status as a sovereign wealth fund and the state’s key asset management company, 100 percent owned by Kazakhstan (BBB+/A-/Stable),” said the message………………………………………..Full Article: Source


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