Microfinance Organization "KMF" says Fitch Ratings affirmed the company's ratings; outlook "Stable"

21.08.23 12:16
/KASE, August 21, 2023/ – Microfinance Organization "KMF" LLP (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated August 17, 2023: quote Fitch Ratings has affirmed Microfinance Organization "KMF" LLP's Long-term Issuer Default Rating (IDR) at "B+" with a "Stable" outlook. Also, the national long-term rating of KMF was affirmed at "BBB (kaz)" with a "Stable" outlook. "Positive rating factors include KMF's leading market share in the microfinance sector in Kazakhstan, a long history of stable operations in an evolving operating environment, good profitability, a diversified and short-term loan portfolio. KMF benefits from low exposure to direct market risk and access to domestic and international funding, including from international financial institutions and impact investors," Fitch Ratings said in its statement. The "Stable" outlook reflects KMF's good competitive position relative to Kazakh MFOs, as well as its growing business scale and gradual diversification of its product offerings and funding base. The continued tightening of prudential regulation has had a positive impact on KMF's competitive position, which will create difficulties for smaller non-banking competitors. unquote More details are available at – https://kase.kz/files/emitters/MFKM/mfkm_rating_170823_None.pdf [2023-08-21]