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Moody's withdraws Kazpost's Ba2 rating

January 30, 2012 Moody's Investors Service
London, 27 January 2012 -- Moody's Investors Service has today withdrawn all the ratings of Kazpost JSC (Kazpost). The ratings withdrawn are the company's Ba2 corporate family rating (CFR), Ba2 probability of default rating (PDR), and A3.kz national scale rating (NSR), all with a stable outlook.

RATINGS RATIONALE

Moody's has withdrawn the rating for its own business reasons. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its Web site, www.moodys.com.

This action does not reflect a change in the company's creditworthiness.

Kazpost JSC is the Kazakh national postal operator active in traditional postal services. It also participates in a wide range of financial and other services, including pension and salaries payments and express deliveries, logistics and transportation services.

Moody's National Scale Ratings (NSRs) are intended as relative measures of creditworthiness among debt issues and issuers within a country, enabling market participants to better differentiate relative risks.
NSRs differ from Moody's global scale ratings in that they are not globally comparable with the full universe of Moody's rated entities, but only with NSRs for other rated debt issues and issuers within the same country. NSRs are designated by a ".nn" country modifier signifying the relevant country, as in ".kz" for Kazakhstan. For further information on Moody's approach to national scale ratings, please refer to Moody's Rating Implementation Guidance published in March 2011 entitled "Mapping Moody's National Scale Ratings to Global Scale Ratings".

REGULATORY DISCLOSURES

The rating has been disclosed to the rated entity or its designated
agent(s) and issued with no amendment resulting from that disclosure.

Moody's Investors Service may have provided Ancillary or Other Permissible
Service(s) to the rated entity or its related third parties within the two years preceding the credit rating action. Please see the special report "Ancillary or other permissible services provided to entities rated by MIS's EU credit rating agencies" on the ratings disclosure page on our website www.moodys.com for further information.

Please see the ratings disclosure page on www.moodys.com for general disclosure on potential conflicts of interests.

Please see the ratings disclosure page on www.moodys.com for information on (A) MCO's major shareholders (above 5%) and for (B) further information regarding certain affiliations that may exist between directors of MCO and rated entities as well as (C) the names of entities that hold ratings from MIS that have also publicly reported to the SEC an ownership interest in MCO of more than 5%. A member of the board of directors of this rated entity may also be a member of the board of directors of a shareholder of Moody's Corporation; however, Moody's has not independently verified this matter.

Please see Moody's Rating Symbols and Definitions on the Rating Process page on www.moodys.com for further information on the meaning of each rating category and the definition of default and recovery.
Company — Kazpost
  • Full name
    Open Joint Stock Company "Kazpost"
  • Registration country
    Kazakhstan
  • Industry
    Other sectors