OREANDA-NEWS. Fitch Ratings has today assigned KazakhGold Group Limited ("KazakhGold") a foreign currency Issuer Default rating ("IDR") of 'B' with Stable Outlook. At the same time, Fitch has assigned KazakhGold's proposed USD150 million senior bond issue an expected rating of 'B'.

The final rating for the bond issue is contingent on receipt of final documentation in line with information already received by the agency.

The ratings reflect KazakhGold's extensive gold reserve base, which is expected to support long mine lives (in excess of 15 years) at expanded levels of production.

The ratings also reflect its projected low production costs, which are expected to be close to the lowest quartile by world standards.