Freedom Holding Corp. says agency Standard & Poor's affirmed ratings of Freedom Finance and Investment company "Freedom Finance", outlook "Stable"

24.06.20, 16:50
/KASE, June 24, 2020/ – Freedom Holding Corp. (Salt Lake City), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the following: quote The international rating agency S&P Global Ratings affirmed the long-term and short-term credit ratings "B-/B" to the participants of the securities market Freedom Finance JSC (Republic of Kazakhstan) and IC Freedom Finance LLC (Russian Federation). The outlook is "Stable". Also, Freedom Finance JSC was affirmed the rating on national scale at the level "kzBB-". "Over the past 12 months, Freedom Finance JSC has been gradually selling shares of Kazakh companies that were in its own position, which ultimately led to a significant increase in the group's capitalization indicators: the risk-adjusted capital ratio increased from 7.0 % as of March 31, 2019 to 9% as of December 31, 2019. The reduction in own position in stocks and the decrease in dependence on short- term borrowing led to an improvement in the liquidity profile of both Freedom Finance JSC and the group as a whole, as evidenced by the improvement in the liquidity ratio of Freedom Holding Corp. from 1.5x as of March 31, 2019 to approximately 2.2x as of December 31, 2019", – it is said the agency's report. unquote More details are available on KASE website at https://kase.kz/files/emitters/US_FRHC/us_frhc_reliz_240620_1.pdf [2020-06-24]