KazTransGas is the largest gas supplying company and the National Operator of the Republic of Kazakhstan, representing the interests of the state in the gas market of the country and in the world. The company's Eurobonds are an attractive alternative to commercial banks' dollar deposits that can provide a similarly low level of risk with higher returns. We believe that, due to its strategic role, the Company will not experience significant problems in servicing its debt obligations and initiate coverage of the Company's debt instruments with a recommendation to BUY KazTransGas bonds.
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