On 11 September 2024, Moody's upgraded the ratings of the Kazakhstan Electricity Grid Operating Company (KEGOC) from Baa2 to Baa1. The outlook on KEGOC's ratings was changed to stable.

At the same time, Moody's confirmed KEGOC's Baseline Credit Assessment (BCA) at baa3.

The current rating actions align with the sovereign rating action concerning the Government of Kazakhstan, which took place on 9 September 2024, when Moody's upgraded the long-term issuer and senior unsecured debt ratings of the Government of Kazakhstan from Baa2 to Baa1 and changed the outlook to stable.