LONDON (Standard & Poor's CreditWire) Sept. 18, 2000--Standard & Poor's today placed JSC Kazakhstan Electricity Grid Operating Co.'s (JSC KEGOC) double-'B'-minus long-term local currency issuer credit rating on CreditWatch with positive implications. At the same time, Standard & Poor's raised JSC KEGOC's long-term foreign currency issuer credit rating to double-'B'-minus from 'B'-plus in line with the foreign currency rating of the Republic of Kazakhstan. The outlook is stable. The CreditWatch placement reflects the expectation that the long-term local currency rating will be raised to the same level as that of the sovereign (BB/Stable/B), reflecting a continuation of the highly supportive regulatory regime provided by the Kazakh authorities. The CreditWatch placement is expected to be resolved within three months following a
