OREANDA-NEWS. Fitch Ratings has today announced the launch of its National ratings scale in Kazakhstan and assigned a National rating of 'A+(kaz)' with a Stable Outlook to JSC Astana Finance ("AF"). A local currency Issuer Default rating ("IDR") of 'BB+' with a Stable Outlook has also been assigned.

"Our decision to introduce the National ratings scale in Kazakhstan is driven by the rapid development of the domestic corporate bond market and by the consequent demand for this product from the issuers and investors," says Dmitri Surkov, Managing Director and Head of Fitch's CIS office in Moscow.

In addition to the National Rating and local currency IDR assigned today, AF's current ratings are: 
Foreign currency IDR: 'BB+' Outlook Stable; Short-term foreign currency: 'B'; Individual: 'D/E'; Support: '3'.