Halyk Finance says agency Fitch Ratings upgraded ratings of the company; outlook "Stable"

/KASE, April 15, 2021/ – Subsidiary of Halyk Savings Bank of Kazakhstan "Halyk Finance" (Almaty, hereinafter – Halyk Finance), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the following: quote On April 13, 2021, the international rating agency Fitch Ratings upgraded the following ratings of Halyk Finance: ------------------------------------------------------------------------------------- New rating Rating change Previous rating ------------------------------------------------------ -------------- --------------- Long-term foreign currency issuer default rating BBB- Rating upgrade BB+ ------------------------------------------------- ---- -------------- --------------- Short-term foreign currency issuer default rating F3 Rating upgrade B ------------------------------------------------- ---- -------------- --------------- Long-term local currency issuer default rating BBB- Rating upgrade BB+ ------------------------------------------------- ---- -------------- --------------- Short-term local currency issuer default rating F3 Rating upgrade B ------------------------------------------------- ---- -------------- --------------- Support rating 2 Rating upgrade 3 ------------------------------------------------------------------------------------- As a result of this upgrading, the above-mentioned long-term ratings of Halyk Finance were transferred to the investment grade. The upgrading of ratings reflects a similar rating action in relation to the sole shareholder of Halyk Finance – Halyk Bank of Kazakhstan JSC. The outlook on the ratings is "Stable". This rating action made Halyk Finance the first and only Kazakh broker-dealer ever to be assigned an investment grade rating. We also remind you that Halyk Finance is the first investment bank to receive a credit rating from one of the leading international rating agencies. The assigned ratings are the highest among all investment banks in the country. unquote [2021-04-15]