Fitch Ratings has affirmed the sovereign credit rating of Kazakhstan - Long-term foreign currency of the issuer at “BBB +” level, in local currency at “A-” level, the forecast is – “Stable” as informed by ИА "Zakon.kz".
Agency has positively evaluated sovereign country's balance of effective restructuring bank balance, low and stable inflation under flexible exchange rate regime, and improvement in public administration.
However, among the weaknesses it was noted: political risks, risk management which is not fully adequate in the banking sector, frequent price hikes on products that have a negative impact on the balance of payments.
Name of “MinTax” used in this proposal, depending on the context, can refer to MinTax LLP or MinTax Audit LLP and to its structural subdivisions as well. MinTax LLP and MinTax Audit LLP are included into MinTax Group acting on the basis of the Partnership Agreement, and are considered to be separate and independent legal entities founded under the Republic of Kazakhstan legislation, and they are responsible for all rights and obligations only on their behalf. The Companies which are included in MinTax Group are not responsible for any actions or omissions of each other
CONFIDENTIALITY | LEGAL ASPECTS