OREANDA-NEWS. May 26, 2010. Fitch Ratings has assigned Kazakhstan-based JSC National Atomic Company Kazatomprom's (Kazatomprom) proposed notes a final senior unsecured rating of 'BBB-', reported the press-centre of KASE.

The notes comprise unsecured and unsubordinated obligations of Kazatomprom and rank equally with the company's existing and future unsecured and  unsubordinated obligations. Kazatomprom is rated Long-term foreign currency Issuer Default Rating (IDR) 'BBB-' with a Stable Outlook, and Short-term foreign currency IDR 'F3'.

The notes are governed by English law and have the benefit of negative pledge and cross default clauses.

Kazatomprom is one of the world's largest uranium producers. It is ultimately 100% state-owned. The current Long-term foreign currency IDR represents Fitch's view of the company on a standalone basis, which at present is at the same level as Kazakhstan's rating.

Applicable criteria, "Corporate Rating Methodology", dated 24 November 2009, are available at www.fitchratings.com.