KMG’s credit ratings
KMG intends to maintain investment-grade credit ratings and a high credit profile, and ensure that it maintains its business image as a bona fide borrower. In 2021, KMG’s efforts to support its financial stability helped the Company maintain its credit ratings despite negative external factors.
Change in KMG’s ratings
- On 28 January 2021, following the revision of its risk assessment for the oil and gas exploration, production and refining sector, S&P Global Ratings affirmed KMG’s credit ratings at BB with a negative outlook
- On 30 April 2021, S&P Global Ratings affirmed KMG’s credit ratings at BB with a negative outlook
- On 12 August 2021, Moody’s Investors Service upgraded KMG’s credit rating from Baa3 to Baa2 due to an upgrade of Kazakhstan’s sovereign rating. The rating outlook was changed from positive to stable
- On 20 September 2021, Fitch Ratings affirmed KMG’s long-term issuer default rating at BBB– (one notch below the sovereign rating) with a stable outlook.
For more details see the Shareholder and investor relations section