Fitch Ratings has affirmed Kazakhstan-based Joint Stock Company Central-Asian Electric-Power Corporation's (CAEPCo) Long-term foreign currency Issuer Default Rating (IDR) at 'BB-'. The Outlook is Stable. A full list of ratings actions is at the end of this comment.

The affirmation reflects CAEPCO's solid business and financial profile. CAEPCo's 'BB-' rating reflects its vertical integration, stable regional market position (despite overall small size) with access to cheap regulated coal supplies and currently benign regulatory regime.

Press-release 04.06.2015