PRESS RELEASE

Fitch confirms the rating of Kazakhstan Housing Company

at the “BBB” level, the forecast is “Stable”

 

Astana,                                                                                              July 3, 2024

 

 

Fitch Ratings has confirmed the long-term rating of Kazakhstan Housing Company JSC in foreign and national currency at the level of “BBB”. The rating forecast is “Stable”.

The confirmation of the KHC rating at the level of the sovereign rating of the Republic of Kazakhstan reflects the agency’s opinion that the Government and the shareholder of Baiterek NMH JSC provide the necessary support as a Single operator of housing construction.

The company’s net profit for 2023 amounted to 41.8 billion tenge, 70% of which were used to pay dividends.  The assets of KHC increased by 2.5%, compared to 2022 – up to 1.48 trillion tenge.

KHC stimulates supply in the housing market by providing financing, subsidies and guarantees of completion to developers.

In addition, KHC is responsible for protecting the rights and legitimate interests of shareholders in the event of a warranty event. The mechanism of guaranteeing shared-equity construction helps to solve socially oriented tasks of the state, helping thousands of Kazakhstanis to purchase affordable and high-quality housing. In Kazakhstan, every fifth residential complex was built with the involvement of financial instruments of the KHC.

Earlier, in 2023, KHC was assigned the ratings “BBB” from Fitch Rating and “Baa3” from Moody’s.

 

 

Press Service

Kazakhstan Housing Company JSC

+7 7172 797575, add. 2720

pr@khc.kz, www.khc.kz

PRESS RELEASE

Fitch confirms the rating of Kazakhstan Housing Company

at the “BBB” level, the forecast is “Stable”

 

Astana,                                                                                              July 3, 2024

 

 

Fitch Ratings has confirmed the long-term rating of Kazakhstan Housing Company JSC in foreign and national currency at the level of “BBB”. The rating forecast is “Stable”.

The confirmation of the KHC rating at the level of the sovereign rating of the Republic of Kazakhstan reflects the agency’s opinion that the Government and the shareholder of Baiterek NMH JSC provide the necessary support as a Single operator of housing construction.

The company’s net profit for 2023 amounted to 41.8 billion tenge, 70% of which were used to pay dividends.  The assets of KHC increased by 2.5%, compared to 2022 – up to 1.48 trillion tenge.

KHC stimulates supply in the housing market by providing financing, subsidies and guarantees of completion to developers.

In addition, KHC is responsible for protecting the rights and legitimate interests of shareholders in the event of a warranty event. The mechanism of guaranteeing shared-equity construction helps to solve socially oriented tasks of the state, helping thousands of Kazakhstanis to purchase affordable and high-quality housing. In Kazakhstan, every fifth residential complex was built with the involvement of financial instruments of the KHC.

Earlier, in 2023, KHC was assigned the ratings “BBB” from Fitch Rating and “Baa3” from Moody’s.

 

 

Press Service

Kazakhstan Housing Company JSC

+7 7172 797575, add. 2720

pr@khc.kz, www.khc.kz