China-Europe container transport via Trans-Kazakh rail network increases by 205%
The volume of transit container transport on China-Europe route via Trans-Kazakh rail network has increased by 205% in January-April 2016 compared to the same period last year. This allowed Kazakhstan Railways to increase income in Swiss francs and obtain positive financial results. The company’s net profit reached 32.6 bln tenge.
In order to repay a US $ 350 million 10-year Eurobond attracted in 2006, Kazakhstan Railways transferred to its Netherlands based subsidiary Kazakhstan Temir Zholy Finance B.V. the entire amount to be further paid to Eurobonds investors.
Timely and complete fulfillment of obligations to creditors confirmed Kazakhstan Railways’ status as borrower with a stable business strategy. Its credit ratings from international rating agencies are: Moody’s- Baa3; Fitch- BBB; S & P- BB.