Bishkek (Kyrgyzstan): The Kyrgyz Republic is testing investor appetite for a possible first-ever sale of US dollar bonds.
The government is considering an issuance as soon as next year, pending an improvement in the central Asian country’s credit rating, Arzuubek Zhumayev, the Kyrgyz Finance Ministry’s head of state debt, told Bloomberg News by phone.
In May, Moody’s Ratings affirmed Kyrgyzstan’s foreign issuer rating at B3, six levels below investment grade, with a change in the outlook to “stable” from “negative”.Kyrgyzstan is expecting a ratings update early next year, and may decide to sell eurobonds “in the end of 2025 or the beginning of 2026”, Zhumayev said.
The size of the issuance and the appointment of banks for the transaction will be decided next year, he said. — Bloomberg
