Moody's assigns Baa1 rating to KazMunaiGas' new yuan-denominated bonds

National company KazMunaiGas announced that on August 21, international rating agency Moody's Ratings assigned a 'Baa1' rating to its planned unsecured bond issues denominated in Chinese yuan. This investment-grade rating reflects the company's stable financial position and its significance to Kazakhstan's economy. Issuing bonds in yuan allows KazMunaiGas to diversify its funding sources and strengthen ties with the Chinese capital market. For retail and institutional investors, the rating serves as a reliability benchmark when considering participation in the placement. The agency's decision could also affect the company's borrowing costs and perceptions of Kazakhstani quasi-sovereign issuers more broadly.