On November 07, 2006, FITCH RATINGS first assigned JSC National Atomic Company Kazatomprom the long-term foreign currency issuer rating "ВВ+" and short-term foreign currency rating "В". The rating outlook on the rating is "Positive".

"Positive" outlook reflects positive principles of uranium industry as well as expectations of Fitch Ratings that Kazatomprom continues its fast growth if its strong credit indicators and financial terms remain unchanged.

The future rating of outlook can be changed by virtue of the following factors:

Factors of rating increase:

• Successful implementation of the development strategy;
• Transition to higher levels of the uranium production cycle.

Factors of rating decrease:

• Disruption of ordinary production process on the main activities;
• Moratorium on new NPP construction;
• Decrease of country rating.

National Atomic Company KAZATOMPROM is a national operator for export of uranium and other dual-purpose products. 100% shares of the Company belong to the Government represented by the Ministry of Energy and Mineral Resources of Kazakhstan. KAZATOMPROM is a holding, which controls six areas of activities: geological exploration, uranium production, metallurgy, energy, scientific support of production and retraining of the staff, as well as social assistance. At present, about 20,000 employees work for the Company. The Company one is of three leading uranium-mining companies of the world.