S&P ups Freedom Finance

S&P said it raised its long-term issuer credit ratings on Investment Co. Freedom Finance LLC and Freedom Finance JSC to B from B-.

“We expect the Freedom group to continue demonstrating strong earnings capacity. The group posted strong earnings in financial year ended March 31, 2021, on the back of strong inflows of retail funds to securities markets in Russia and Kazakhstan. We understand that volumes have remained strong so far in 2021, and we expect growth to continue at least into 2022. We therefore expect the group will generate core earnings in excess of 200 basis points of our risk-weighted assets metric in 2021 and 2022,” S&P said in a press release.

The outlooks are stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.