On Oct. 21, 2002, Standard & Poor's Ratings Services revised its outlook on JSC Kazakhstan Grid Operating Co. (KEGOC) to positive from stable, following a review of the company's stand-alone business and financial profile. At the same time, Standard & Poor's affirmed its double-'B' long-term corporate credit ratings on KEGOC. The outlook revision reflects the positive outlook on the Republic of Kazakhstan (local currency BB+/Positive/B; foreign currency BB/Positive/B). It also reflects Standard & Poor's expectation that the government's tariff policy will be supportive of the company and that KEGOC will not take on new long-term debt not guaranteed by the government in the medium term or until there is more certainty about tariff policy and the company's ability to repay
