ASTANA, Kazakhstan, December 20. International
rating agency Fitch Ratings has affirmed the credit ratings of
Kazakhstan Temir Zholy (KTZ) at ‘BBB-’, assigning a Stable Outlook,
Trend reports via
KTZ.
The rating reflects KTZ’s systemically important role in
Kazakhstan’s transport network, as well as the stability of its
financial performance. The Stable Outlook indicates expectations
that the national rail operator will maintain a solid financial
profile in the medium term.
Fitch noted that a further reduction in debt levels, growth in
EBITDA, and improved coverage ratios could have a positive impact
on KTZ’s standalone credit profile going forward.
The agency also assessed the company’s ESG factors in line with
its methodology, highlighting the relevance of environmental,
social, and governance considerations within its overall rating
analysis.
Fitch’s assessment is based on an analysis of KTZ’s operational
results and financial data, prepared in accordance with the
agency’s international rating criteria.
Total cargo volumes transported via Kazakhstan Temir Zholy (KTZ)
reached 287.9 million tons from January through November 2025,
which is a 4% increase compared with the same period in 2024.
