Freedom Holding Corp. Subsidiaries Assigned S&P Rating
ALMATY, KAZAKHSTAN / ACCESSWIRE / July 1, 2019 / Freedom Holding Corp. (OTCQX: FRHC) (the "Company") today announced that Standard and Poor's Financial Services, LLC (S&P) has assigned Company subsidiaries JSC Freedom Finance, a Kazakhstan corporation and LLC Investment Company Freedom Finance, a Russian limited liability company, an issuer credit rating of "B-/stable/B" and assigned B-/B long-term and short-term foreign currency issuer credit ratings. Additionally, S&P assigned JSC Freedom Finance a national scale rating of KzBB-.
Company CEO, Timur Turlov, stated, "We are pleased with our initial S&P rating as it compares favorably with the B anchor SACP that S&P assigned to regional financial service companies. It fairly reflects the current stability of our Company, as we continue to execute our business plan focusing on regional retail securities brokerage and expanding and increasing our related financial services and investment banking activities. Pursuing an S&P rating is evidence of our sensitivity to risk and our focus on managing our risks responsibly while simultaneously pursuing the many opportunities for business growth and regional expansion of our financial services activities. We expect our rating to provide our clients and business associates greater transparency and insight while allowing us the opportunity to leverage our rating for various business purposes."
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. is a financial services holding company conducting retail financial brokerage, investment counseling, securities trading, investment banking and underwriting services through its subsidiaries under the name of Freedom Finance in Eastern Europe and Central Asia. The Company is a professional participant of the Kazakhstan Stock Exchange (KASE), Astana International Exchange (AIX), Moscow Exchange (MOEX), the Saint-Petersburg Exchange (SPB) the Republican Stock Exchange of Tashkent (UZSE) and the Ukrainian Exchange. The Company is headquartered in Almaty, Kazakhstan, with executive office locations in Russia and the United States. The Company operates more than 70 branch offices in Kazakhstan, Russia, Kyrgyzstan, Ukraine, Germany and Cyprus.
The Company's common shares are registered with the United States Securities and Exchange Commission and are traded in the United States on the OTCQX Best Market operated by OTC Markets Group Inc., the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Investors are able to view Real Time Level II stock quotes for the Company at: http://www.otcmarkets.com.
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 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.
The OTC Markets Group, Inc. has not approved nor disapproved of the contents of this press release.
SOURCE: Freedom Holding Corp.
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Released July 1, 2019