/KASE, February 6, 2025/ – Kazakhtelecom JSC (KASE ticker – KZTK) has
announced the following:
quote
Kazakhtelecom continues its strategic development and adaptation to market
changes, as reflected in the updated assessments from international rating
agencies Fitch Ratings and S&P Global Ratings. Their conclusions have sparked
active discussions among investors and analysts, reaffirming the company's key
role in Kazakhstan's telecommunications sector.
Fitch Ratings has affirmed company's long-term credit rating at "BBB-" with a
"Stable" outlook. The agency highlights the company's resilient business model,
ability to generate free cash flow, and adaptability to market challenges.
Strong positions in fixed-line communications and active investments in digital
transformation, including the development of 5G networks and cloud
technologies, were also noted.
S&P Global Ratings downgraded the company's rating from "BB+" to "BB" with a
"Negative" outlook, citing the financial impact of selling its mobile asset,
Mobile Telecom Service LLP (brands Tele2/Altel). The temporary decline in
EBITDA and profitability is considered a short-term effect, with recovery
expected by 2027.
unquote
Press release in Russian –
https://kase.kz/files/emitters/KZTK/kztk_relizs_060225_1.pdf
Press release in English –
https://kase.kz/files/emitters/KZTK/kztk_relizs_060225_en.pdf
[2025-02-06]