/KASE, July 16, 2024/ – LIC Freedom Life JSC (Almaty), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE
about the following:
quote
On July 2, 2024, the rating agency S&P Global Ratings revised the outlook on
the rating of LIC Freedom Life JSC (FFL) from "Negative" to "Stable", and also
affirmed the long-term issuer credit rating and the financial stability rating
of the company at "BB", at the same time, it increased its rating on the
national scale from "kzA+" to "kzAA-".
The improved rating outlook and revision of the rating on national scale follow
the rating affirmation and rating outlook change for parent Freedom Holding
Corp. from "Negative" to "Stable", as well as affirmation of ratings and a
change in outlooks om ratings of the operating subsidiaries of the holding from
"Negative" to "Positive".
According to S&P analysts, FFL has demonstrated the sustainability of its
profitability and capital reserves since 2023, which distinguishes FFL from
comparable Kazakh companies with the same or higher rating. The agency
expects the company's earnings to remain stable in 2024–2025.
The "Stable" outlook reflects the agency's expectation that FFL will continue to
generate strong earnings over the next 12 months, maintain strong capital
buffers and maintain reasonably high asset quality.
unquote
This information is available on –
https://kase.kz/files/emitters/ASLF/aslf_rating_020724_1024.pdf
[2024-07-16]