/KASE, July 1, 2019/ – Freedom Finance (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has informed KASE as follows:
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.
Detailed information is available on KASE website (in Russian) –