/KASE, March 18, 2022/ – Freedom Holding Corp. (USA), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated March 18, 2022:
quote
S&P Global Ratings has downgraded the credit ratings of companies that are
part of Freedom Holding Corp.:
- PLC "IC "Freedom Finance" from В to ССС-;
- JSC "Freedom Finance", "Bank Freedom Finance Kazakhstan", Freedom
Finance Global PLC, Freedom Finance Europe Ltd. from B to B-.
The rating downgrade follows the downgrade of Russia's sovereign credit ratings
in foreign and local currency from BB+/B and BBB-/A-3 to CCC-/C, respectively;
these ratings remain negative on the CreditWatch list. The transferability and
convertibility estimates for Russia have also been revised downward from BBB-
to CCC-. In this regard, now the Kazakh and European subsidiaries of the Holding
have a higher rating than the sovereign rating of the Russian Federation.
unquote
The complete press release is available on KASE website –
https://kase.kz/files/emitters/US_FRHC/us_frhc_relizs_180322.pdf
[2022-03-18]