OREANDA-NEWS. Fitch Ratings has today assigned KazakhGold Group Limited's ("KazakhGold") USD200 million 9.375% senior notes issue due 2013 a final 'B' rating and a final 'RR4' Recovery rating. At the same time, Fitch has affirmed KazakhGold's foreign currency Issuer Default rating ("IDR") at 'B' with Stable Outlook.

KazakhGold is a Kazakhstan-based gold producer, which is undertaking a major expansion and modernisation programme at its three operating gold mines.

The 'RR4' Recovery rating reflects average recovery prospects in the event of default. Recovery ratings for Kazakhstan corporates are capped at 'RR4'.