Moody's increases ratings for C Asia's biggest state in backdrop of reforms

Moody's has upgraded Kazakhstan's long-term local and foreign currency issuer ratings to Baa1 from Baa2, with a stable outlook. This upgrade reflects ongoing economic reforms aimed at enhancing investment attractiveness and diversifying the economy. The non-oil sectors, particularly ICT, transport, and manufacturing, have shown notable growth, reducing the country's dependence on hydrocarbons.