The international rating agency Fitch Ratings has affirmed the long-term issuer default rating (EDR) of Almaty Social Entrepreneurship Corporation JSC ("Almaty SEC") at "BBB-" in foreign and national currencies with a "Stable" outlook.
The "BBB-" rating, which belongs to the investment grade category, reflects the Company's sufficient level of creditworthiness and low expectations for credit risks.
The rating affirmation reflects Fitch's opinion that the probability of emergency support for Almaty SEC from the city is "very high", given the key role of the corporation in the socio-economic development of the metropolis. In the medium term, the rating agency does not expect these relationships to change.
SEC "Almaty" remains a major city development institution that implements priority socially significant and investment projects for the city, including financing local micro, small and medium-sized businesses, renovation of old housing, development of the industrial zone, as well as stabilizing prices for socially significant food products.
Fitch notes that there are no similar organizations capable of performing the functions of SEC "Almaty", which increases the strategic importance of the corporation for the City.
Currently, SEC "Almaty" remains the only social and entrepreneurial corporation in Kazakhstan with an international credit rating.

Source : https://www.gov.kz/memleket/entities/almaty/press/news/details/948131