National Company «KazMunayGas» - Fixed Income Analysis

Altynay Ibraimova, Stanislav ChuyevJanuary 22, 2018

Despite the doubling of operating loss, we maintain BUY recommendation for NC KMG bond. On the one hand, we note the Company's high priority for the state due to the status of its main agent in the oil and gas sector of the country, and on the other hand, the higher yield provided by bonds in comparison with foreign currency deposits. 

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