The UAE is one of the twenty largest investors in the economy of the ex-Soviet country.

The country produced 1.508 million bpd in September and its quota for October was set at 1.524 million bpd.

The agency also upgraded the bank's national scale long-term counterparty risk rating to Baa2.kz from Baa3.kz and affirmed its long- and short-term deposit ratings at B2/Not Prime.

The government also plans to reduce the use of the National Fund's transfers to 2.4 trillion tenge from 4.5 trillion tenge in the next three years.