Freedom Finance says Standard & Poor's assigned ratings to Freedom Finance and Freedom Finance Investment Company at "В-/В", outlook Stable

01.07.19, 16:19
/KASE, July 1, 2019/ – Freedom Finance (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE as follows: quote S&P Global Ratings international rating agency assigned ratings to Freedom Finance JSC and Freedom Finance Investment Company LLC (Russian Federation) at "В-/В". Outlook is Stable. At the same time, Freedom Finance JSC was assigned a 'kzBB-' Kazakh national scale rating. Freedom Finance maintains very low debt burden as of March 31, 2019, the amount of debt was 31.7%. The group's liquidity profile is characterized by high quantitative indicators and a high concentration of liquid assets. As of March 31, 2019, the liquidity coverage ratio was 157%. We consider Freedom Finance Group's funding profile to be sufficient. In 2018, the Group has significantly diversified funding structure in Kazakhstan having reduced fund raising through REPO mechanism and issuing three-year bonds to fund its own position. In our view, this has allowed Freedom Finance to balance the asset base and the liabilities base, which is evidenced by the stable gross financing ratio, which has improved from about 90% as of March 31, 2018, to approximately 102% as of March 31, 2019," the agency said in a report. unquote Detailed information is available on KASE website (in Russian) – http://kase.kz/files/emitters/FFIN/ffin_reliz_010719_1.pdf [2019-07-01]