Fitch affirms KTZ’s ‘Stable’ rating
The international agency Fitch Ratings has affirmed the credit rating of National Company Kazakhstan Temir Zholy JSC (KTZ) at ‘BBB-‘ with a Stable Outlook.
The rating confirmation indicates the stable work and efficient operating activities of the National Company. Due to the measures taken to increase highly profitable transit transportation, increase tariffs and optimize operating expenses, the gross profit of KTZ for the first 9 months of 2024 increased by 38.1 billion tenge (or 11.1%) compared to the same period in 2023.
The financial stability of the Company is supported by the trust of international financial institutions that provide KTZ with credit funds and guarantees.
In Fitch’s view, KTZ is a vital part of the state’s development programme, fostering transit and export growth potential, and serving as the nation’s transportation backbone, connecting a dispersed population.
