Astana (TDI): Moody’s Global Ratings has affirmed the credit rating of NC Kazakhstan Temir Zholy JSC (KTZ) at Baa2, maintaining a Stable outlook.
Moody’s rating shows that KTZ has a strong operational performance, growing freight volumes, and continued investment in infrastructure development.
The rating agency highlighted a 3.8% increase in cargo transportation in 2024 compared to the previous year, along with an 8.8% rise in container transit.
These improvements, supported by annual tariff adjustments from 2024 to 2026, have helped maintain KTZ’s financial stability and reinforced its position as a key transit operator in the region.
Moody’s attributed KTZ’s positive performance to the growing demand for cargo transport, particularly along the Trans-Caspian International Transport Route (TITR).
The expansion of freight services across Eurasia has contributed to increased trade flow, positioning Kazakhstan as a crucial logistics hub.
KTZ’s financial resilience is also backed by a large-scale capital investment program aimed at eliminating logistical bottlenecks and improving transit infrastructure.
These investments are expected to enhance the company’s efficiency and competitiveness, further strengthening Kazakhstan’s role in international trade.
The Kazakh government continues to prioritize railway modernization to facilitate seamless trade between Asia and Europe.
As part of this strategy, KTZ is implementing projects to expand rail capacity, improve digital logistics solutions, and enhance cargo handling facilities.
Moody’s assessment reflects confidence in KTZ’s long-term financial health, supported by stable revenue streams, government backing, and strategic expansion initiatives. The rating agency’s Stable outlook indicates expectations of continued operational efficiency and economic stability in Kazakhstan’s railway sector.
With sustained growth in freight volumes and a clear focus on infrastructure development, KTZ remains at the center of Kazakhstan’s transport and logistics strategy, ensuring its role as a key player in regional and international trade.
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