Obtaining ratings from leading international rating agencies represents an independent and sound assessment of the Fund's creditworthiness. The agencies have access to all necessary information for thorough assessment. They also emphasise the significant role of the Fund in Kazakhstan's economy, which is aimed at industrialisation and financial stability. On August 28, 2025, S&P Global Ratings affirmed the long-term credit rating of Samruk-Kazyna JSC at BBB-, with a positive outlook.
On October 1, 2025, Moody's affirmed the rating of Samruk-Kazyna JSC at Baa1 with a stable outlook.
On November 12, 2025, Fitch Ratings affirmed the ratings of Samruk-Kazyna JSC at BBB, with a stable outlook.
The Fund's financial results are based on 12 months ended December 31, 2025, and compared to the previous year.
The following table provides financial information showing the consolidated performance of the Fund's Group.
Consolidated revenue
18.8
KZT
trillion
Consolidated net income
2.3
KZT
trillion
Debt and EBITDA of the Fund, KZT billion (consolidated)
At the end of 2025, the Debt/EBITDA ratio was 2.08 due to the rate of debt increase exceeding EBITDA growth. In 2025, consolidated debt amounted to KZT 11,682 billion.
