S&P affirms Freedom Holding rating, revises subsidiaries' ratings outlook to "Positive"International rating agency S&P Global Ratings has affirmed the long-term issuer credit rating of Freedom Holding Corp. at 'B-' with a "Stable" outlook, the agency reported.Furthermore, the agency affirmed the long-term and short-term issuer credit ratings of Freedom Finance JSC, Freedom Finance Europe Ltd., Freedom Finance Global PLC, and Freedom Finance Bank Kazakhstan JSC at 'B+/B'. At the same time, S&P revised the outlook on the ratings of these companies from "Stable" to "Positive".Additionally, S&P raised the Kazakhstan national scale ratings of Freedom Finance JSC and Freedom Finance Bank Kazakhstan JSC from 'kzBBB' to 'kzBBB+'."The Positive outlook on the group's key financial operating companies reflects significant achievements in establishing centralized risk management and compliance (...)," the statement reads.Analysts state that the Positive outlook on Freedom Holding's key operating subsidiaries over the next 12 months reflects significant progress in building centralized risk management and compliance systems, moderate growth rates supporting capitalization, and the ongoing expansion of the franchise both in Kazakhstan and abroad.Freedom Holding Corp. is controlled by Kazakh businessman Timur Turlov, a former Russian citizen.Freedom Holding Corp. is headquartered in Almaty, with company offices operating in 14 countries, including Cyprus, the USA, Uzbekistan, the UK, and Germany. The group trades on the Kazakhstan Stock Exchange (KASE), Astana International Exchange (AIX), Tashkent Republican Stock Exchange, and Uzbek Republican Currency Exchange, as well as on the New York Stock Exchange (NYSE) and Nasdaq Stock Market. (ICE ALMATY)

Fonte notizia: INTERFAX