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Almaty: On July 13, 2004, Moody's upgraded its outlook for Kazakhstan to positive from stable for its Baa3

13.07.2004

On July 13, 2004, Moody's upgraded its outlook for Kazakhstan to positive from stable for its Baa3 country ceiling for foreign-currencybonds and the Ba1 country ceiling for foreign-currency bank deposits. Theoutlook change also applies to the government's Baa3-rated foreign currency andBaa1-rated local currency bonds.
Bank TuranAlem sees the upgrade in the outlook as being attributable to Kazakhstan's continuing strong economic performance and its sound fiscal policies.