Corporate Bond View Borne Out

August 2004 | Market Strategy

Ratings agency Moody's has raised the outlook on Kazakhstan's Baa3 long-term foreign currency and Baa1 long-term currency ratings from stable to positive. It cited strong growth, the healthy banking sector and high levels of FDI in the commodity sector. Indeed, we have been bullish on Kazakhstan's macroeconomic outlook for some time, which has been borne out by the recent raft of positive data releases.

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