Moody's Ratings has assigned Samruk-Energy JSC a first-time investment-grade long-term issuer rating of Baa2 in both local and foreign currency, with a Stable outlook. On the Fitch rating scale, this corresponds to a level two notches above the Company's current BB+ rating, which was previously affirmed by Fitch Ratings.
The investment-grade rating reflects Samruk-Energy JSC's strong financial position, solid market position, strategic importance to Kazakhstan's power system, and sustained growth in its operating performance.
According to Moody's, the Company operates in a supportive regulatory environment. Long-term tariff regulation, the capacity payment mechanism and the ability to revise tariffs provide predictable revenue streams and create favorable conditions for the implementation of the Company's large-scale investment program. Moody's also identifies growing electricity demand in Kazakhstan and the continuing shortage of power generation capacity as additional factors supporting the Company's resilience, helping maintain high utilization rates across its existing power plants.
Moody's also highlighted the scale and diversification of Samruk-Energy JSC's asset portfolio. The Company accounts for approximately one-third of Kazakhstan's installed generation capacity, is the country's largest owner of hydropower plants, is implementing renewable energy projects and continues to modernize its key production assets. The agency notes the Company's strong financial performance in recent years and expects its operating performance to strengthen further following the completion of its major investment projects.
The investment-grade rating assigned by Moody's confirms Samruk-Energy JSC's strong creditworthiness, strengthens confidence among international investors and financial institutions, and expands the Company's access to long-term financing for the implementation of strategic projects aimed at ensuring the energy security and sustainable development of the energy sector of the Republic of Kazakhstan.































