Microfinance Organization "KMF" says Fitch Ratings affirmed long-term rating of the company at "B+"; outlook "Stable"

30.05.22 16:04
/KASE, May 30, 2022/ – Microfinance Organization "KMF" LLP (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated May 27, 2022: quote On May 26, 2022, Fitch Ratings affirmed the Long-term Issuer Default Rating (IDR) of Microfinance Organization "KMF" LLP at "B+"/outlook "Stable". Fitch also upgraded KMF's Long-term National Rating of KMF from BBB-(kaz) to BBB(kaz)/outlook "Stable". Positive rating factors include KMF's leading market share in Kazakhstan's microfinance market, a long track record of stable operations in an often volatile operating environment, good profitability, a diversified and short-term loan portfolio with low exposure to direct market risk and access to domestic and international funding, Fitch Ratings notes. KMF management has responded to the challenges with a consistent funding diversification strategy, moving away from dependence on international lenders in favor of funding from local sources, while gradually moving towards the diversity of its product line and sales channels, Fitch analysts say. unquote Full information is available – https://kase.kz/files/emitters/MFKM/mfkm_rating_260522_26052022.pdf [2022-05-30]