S&P lowered the rating of Kazakhstan from BBB + to BBB: outlook - negative
Date: 11:51, 10-02-2015.
Almaty. February 10. Silkroadnews - Standard & Poor's downgraded the credit rating of sovereign Kazakhstan from «BBB+» to «BBB», outlook "negative", indicates the report of the international rating agency.
Reason for the decline of ratings is a sharp drop in international oil prices.
Kazakhstan's economy is highly dependent on the oil sector and accounts for 20-30% of GDP (evaluation). More than 50% of budget revenues and 60% of exports. There is a significant correlation between the ratio of nominal GDP and oil prices.
