Standard&Poor's reconsidered the forecast on Kazakhstan’s ratings from “stable” to “negative” and confirmed its sovereign loan rating at the level of BBB+.
According to analysts of S&P, the “negative” forecast reflects the view of the agency that “with probability of 1 to 3 Kazakhstan’s ratings will be reduced in the next two years, if prospects of the economic growth or effectiveness and predictability of monetary policy of the country do not improve,” KazTAG reports.
The analysts of the agency believe that development of Kazakhstan’s internal capital market is prevented by nationalization and uniting pension funds. At the same time natural resources influence ratings of the country positively.
