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BRIEF-Fitch affirms Kazakhstan at 'BBB' outlook stable
April 21, 2017 / 9:18 PM / 7 months ago

BRIEF-Fitch affirms Kazakhstan at 'BBB' outlook stable

April 21 (Reuters) -

* Fitch affirms Kazakhstan at ‘BBB’; outlook stable

* Fitch says the issue ratings on Kazakhstan’s senior unsecured foreign-currency bonds have also been affirmed at ‘bbb’

* Fitch, on Kazakhstan, says short-term foreign- and local-currency idrs have been affirmed at ‘f2’ and country ceiling has been affirmed at ‘bbb+’

* Fitch says state’s fiscal balance sheet is “very strong”, reflecting assets in national fund of Republic of Kazakhstan of 45.8 pct of GDP at end-2016

* Fitch, on Kazakhstan, says banking sector is very weak, with a Fitch-defined bank system indicator of ‘B’

* Fitch on Kazakhstan-constitutional amendments approved in March related to president’s powers unlikely to trigger short-term improvement in governance indicators

* Fitch, on Kazakhstan, says economy’s gradual adjustment to large oil price shock of recent years is continuing

* Fitch, on Kazakhstan, says imf-defined general government deficit is forecast to widen to 7.7 pct of GDP in 2017 from an estimated 5.0 pct in 2016 Source text for Eikon:

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