AKIPRESS.COM - Moody's has confirmed the Baa3.kz national scale corporate family rating (NSR) of JSC NC Kazakhstan Engineering (KE), a state-controlled Kazakhstan defense company.

The outlook on the rating is negative, Moody's said in a release on May 11.

Today's rating action concludes KE's NSR review initiated by Moody's on 26 April 2016 and follows the recalibration of the Kazakh national rating scale.

NSRs, which provide a measure of relative creditworthiness within a single country, are derived from global scale ratings (GSRs) using country-specific maps. The adoption of a revised correspondence between Moody's GSRs and the Kazakh national scale follows the publication of Moody's updated methodology "Mapping National Scale Ratings from Global Scale Ratings"