Microfinance Organization OnlineKazFinance says S&P Global Ratings downgraded the company's ratings

/KASE, April 26, 2022/ – Microfinance Organization "OnlineKazFinance" LLP (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the following: quote On April 14, 2022, S&P Global Ratings Agency downgraded the credit rating of Microfinance Organization OnlineKazFinance LLP to "CCC+/C/kzB+", the ratings were placed on the Credit Watch Developing list. The downgrading followed the downgrading of the sovereign credit ratings of the Russian Federation in foreign and national currencies. The Credit Watch Developing list reflects the possibility of an upgrading of the ratings of Microfinance Organization OnlineKazFinance LLP by S&P Global Ratings in case of successful implementation of the planned restructuring of the group within the next 90 days. unquote [2022-04-26]