Moody’s Investors Service (Moody’s) report recently changed Kazakhstan’s rating outlook from ‘negative’ to ‘stable’. In addition, Moody’s confirmed the issue and senior unsecured ratings as well as senior unsecured medium-term note (MTN) rating of Kazakhstan at Baa3.The Baa3 credit rating includes such strengths as a relative large size of the economy, high per capita income levels, high debt affordability and low level of public debt along with significant fiscal reserves. It also takes into account weaknesses, such as low institutional strength and high proportion of foreign currency government debt.
Though the report recognises the rating may be subjective due to its outlook to the future, it still allows investors to gauge economic and investment potential in each country.