Moody's withdraws KazTransOil's rating
Almaty. January 27. KazTAG - Moody's Investors Service has withdrawn JSC KazTransOil's (KTO) Baa3 issuer rating and positive outlook, reports the rating agency.
"Moody's has decided to withdraw the rating for its own business reasons," reads the statement.
JSC KazTransOil (KTO), a subsidiary of KazMunayGas NC JSC (Baa3 positive), is a monopoly operator of the state oil and water pipeline infrastructure in Kazakhstan, accounting for the transportation of around 40% of oil produced in Kazakhstan. Following an IPO held in December 2012, 10% minus one share of KTO is in free float at the Kazakhstan Stock Exchange. In 2018, KTO generated revenue of KZT225 billion and Moody's-adjusted EBITDA of KZT112 billion.
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