"The rating services market in Kazakhstan is highly concentrated and is almost completely covered by three international rating agencies. Their shares are 25%, 42% and 34%, respectively," Dauletbak said at a briefing on Thursday.
In Kazakhstan as of Q4 2024, 75 Kazakhstani companies had public credit ratings: 25 from Moody's Investors Service, 42 from Fitch Ratings, 34 from Standard & Poor's
There are several problems in the rating services market in Kazakhstan that hinder its development. In particular, credit rating agencies are not regulated, there are no legislative conditions for the creation and operation of local rating agencies, and the cost of rating services for Kazakhstani companies is high, especially for medium-sized businesses.
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