The international agency S&P Global Ratings confirmed the rating of the National Operator KazTransGas and its subsidiary Intergas Central Asia as BB, with Stable Outlook.

According to the rating agency, Stable Outlook for KTG shows that the company is expected to keep maintaining its high production and financial indicators.

As informed by the agency, last year the EBITDA raised by 63% to reach KZT 251 billion resulted in debt-related operation funds of about 40%. Increase in KazTransGas JSC financial figures is thanks to the increase in the gas export volumes, including export to China, and the completion of the key investment projects.

October 2018 witnessed KGT and PetroChina International Co. Ltd. signature of a 5-year SPC for 10 billion cu m/year. In 2018, KTG sold 5.5 billion cu m to China and another 2.4 billion cu m to Russia and that became the main factor for the EBITDA rise.

According to S&P, KazTransGas JSC financial indicators will be volatile due to the growing share of export in the fluctuating gas sales, however the additional cashflows from gas sales are expected to support the reliable credit status. Moreover, it is expected that the company could finance its investment program at the expense of its internal cashflows. Stand-alone credit profile of KazTransGas JSC (SACP) is assessed as BB.