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

For more details see the Shareholder and investor relations section

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.