Fitch Rates Kazakhstan's Real Estate Fund Samruk-Kazyna 'BB+'; Outlook Stable
Fitch Ratings-Moscow-28 December 2017: Fitch Ratings has assigned Kazakhstan's Real Estate Fund Samruk-Kazyna (REFSK) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) of 'BB+' and a National Long-Term Rating of 'AA(kaz)'. The Outlooks are Stable. Fitch has also assigned REFSK a Short-Term Foreign Currency IDR of 'B'.
The ratings are based on Fitch's view of REFSK as a government-related entity (GRE) under the agency's exposure draft "Government-Related Entities Rating Criteria" and reflect the entity's linkage with the Republic of Kazakhstan (BBB/Stable/F2), which is the ultimate sponsor of the company.