Moody's Investors Service, an international credit rating agency, has upgraded the long-term ratings of the Industrial Development Fund JSC from "Ba1" to "Baa3", while maintaining a "positive" outlook.
The upgrade reflects the Fund's improved financial performance and its solid position in the market for leasing and financing industrial projects.
The positive outlook provides a strong foundation for further growth and development, ensuring the Fund has the necessary liquidity and capitalization to implement strategic projects and initiatives aimed at diversifying the national economy.
As of the first half of 2024, the Industrial Development Fund's project portfolio reached 1.6 trillion tenge, with investments in the economy amounting to 357.4 billion tenge.
The Fund will continue to actively support the development of the manufacturing sector by implementing measures in accordance with the "Law on Industrial Policy", the national project "Sustainable Economic Growth for the Well-being of Kazakhstan Citizens", and the "Concept for the Development of the Manufacturing Industry of the Republic of Kazakhstan for 2023-2029".
