On June 2, 2020, the international rating agency Moody's affirmed the long-term and short-term issuer ratings of JSC “MO “Kazakhstan Mortgage Company” in national and foreign currencies at the level of “Baa3”, and the issuer rating on the national scale at the level of Aa1.kz. The outlook remains stable.
According to the Agency, the upcoming merger of KMC with two other subsidiaries of the national management holding «Baiterek» (Baiterek, Baa3 Positive) - «Baiterek Development» JSC and «Housing Construction Guarantee Fund» JSC into the Unified Housing Operator will undoubtedly strengthen the position of the Company.
Analysts also believe that the forthcoming consolidation will strengthen the credit profile of KMC, as it will be provided with a robust and stable balance sheet structure thanks to a more diversified profile of assets.
The Outlook on the ratings is stable in relation to key financial indicators such as capital, liquidity and asset quality, which remain relatively stable over the next 12-18 months.