Freedom Holding Corp. Subsidiaries' S&P Global Rating Raised
Freedom Holding Corp. (NASDAQ:FRHC) announced on June 25, 2021, that S&P Global Ratings increased its long-term issuer credit ratings for its subsidiaries, JSC Freedom Finance and LLC Investment Company Freedom Finance, from 'B-' to 'B', with stable outlooks. Additionally, the national scale rating for JSC Freedom Finance was raised to 'kzBB+'. The ratings affirm the company's successful expansion and profitability in a growing economic environment. CEO Timur Turlov welcomed this validation of their regional economic stability and growth.
- S&P raised its long-term issuer credit ratings for JSC Freedom Finance and LLC Investment Company Freedom Finance to 'B', indicating improved creditworthiness.
- Affirmation of 'B' short-term issuer credit ratings demonstrates ongoing financial stability.
- Kazakhstan national scale rating for JSC Freedom Finance improved to 'kzBB+', reflecting enhanced financial standing.
- None.
ALMATY, KAZAKHSTAN / ACCESSWIRE / June 25, 2021 / Freedom Holding Corp. (NASDAQ:FRHC) (the "Company") today announced that S&P Global Ratings (S&P) raised its long-term issuer credit ratings on Company subsidiaries JSC Freedom Finance, a Kazakhstan corporation, and LLC Investment Company Freedom Finance, a Russian limited liability company, to 'B' from 'B-' accompanied by stable outlooks. At the same time, S&P affirmed its 'B' short-term issuer credit ratings on both entities and raised its Kazakhstan national scale rating on JSC Freedom Finance to 'kzBB+' from 'kzBB'. S&P also affirmed its 'B-/B' long- and short-term issuer credit ratings and 'kzBB' Kazakhstan national scale rating on JSC Bank Freedom Finance Kazakhstan, a Kazakhstan corporation, accompanied by a positive outlook on the long-term rating.
Company CEO, Timur Turlov, stated, "We are pleased that these S&P long-term issuer credit ratings have been raised as this serves as validation of the economic growth and stability of our region and our Company's success pursuing opportunities for expansion and profitability while strengthening the fundamental soundness of our rapidly growing enterprise."
About S&P
S&P is an international market leader in the provision of independent financial market analysis including credit data and credit ratings for companies and countries.
About Freedom Holding Corp.
Freedom Holding Corp., a Nevada corporation, is a financial services holding company conducting retail financial securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services and consumer banking through its subsidiaries under the name of Freedom Finance in Eurasia. The Company employs more than 2,000 persons and is a professional participant in the Kazakhstan Stock Exchange, Astana International Exchange, Moscow Exchange, Saint-Petersburg Exchange, Ukrainian Exchange, Republican Stock Exchange of Tashkent, and Uzbek Republican Currency Exchange. The Company is also members of the New York Stock Exchange and Nasdaq Stock Exchange. The Company is headquartered in Almaty, Kazakhstan, with administrative office locations in Russia, Cyprus, and the United States.
The Company's common shares are registered with the United States Securities and Exchange Commission and are traded in the United States on the Nasdaq Capital Market, operated by Nasdaq, Inc.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking" statements. All forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include certain economic, business, and regulatory risks and factors identified in the Company's periodic and current reports filed with the Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.
Website Disclosure
Freedom Holding Corp. intends to use its website, https://ir.freedomholdingcorp.com, as a means for disclosing material non-public information and for complying with SEC Regulation FD and other disclosure obligations.
Contact: usoffice@freedomholdingcorp.com
SOURCE: Freedom Holding Corp.
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FAQ
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