Fitch Ratings Agency has re-confirmed the international credit rating of Uzbekneftegaz JSC at the level of "BB-" "stable"

    Industry 22 September 2023 2533

    Uzbekneftegaz JSC has started systematic work on obtaining international credit ratings since February 2021, as a result of which several ratings have been received from international rating agencies over the past two years.

    In a press release issued in connection with the approval of the credit rating of Uzbekneftegaz JSC, Fitch Ratings agency emphasized the strong ties of Uzbekneftegaz JSC with the state as the main factors in assessing its rating. In addition, the Upstream indicators (production and geological exploration) of Uzbekneftegaz JSC are generally noted as stable in the coming years.

    It should also be noted that Uzbekneftegaz JSC is the first company in the real sector of the Republic of Uzbekistan to receive and maintain an international credit rating at the sovereign level.

    For reference: "Fitch Ratings" is an American corporation, known mainly as a rating agency. It is one of the "Big Three" international rating agencies. Specializes in providing global credit markets with independent and forward-looking credit assessments, analytical studies and data.

    A credit rating is an opinion of a rating agency regarding the overall creditworthiness of a borrower or the creditworthiness of a borrower in relation to specific debt obligations, based on an assessment of risk factors.

    The "BB-" level means that there is a possibility of developing credit risks, but the company can fulfill its financial obligations to investors and creditors. The company is positioned as an enterprise with a clear and clear business strategy, a transparent financial position and a strong