S&P Global Ratings has improved long-term credit ratings for four subsidiaries of Freedom Holding Corp., according to a statement issued by the rating agency.
Ratings for Freedom Finance and Freedom Finance Global (both operating under the Freedom Broker brand), Freedom Bank Kazakhstan (under the Freedom Bank brand) and Freedom Finance Europe have all been upgraded from B to B+ on the international scale and from kzBBB- to kzBBB on the national scale.
S&P analysts emphasized their expectation that Freedom Holding Corp.’s companies will see capitalization growth, driven by a planned moderate pace of balance sheet expansion and strong profits diversified...