Core Viewpoint - Freedom Holding Corp. has had its credit ratings confirmed by S&P Global Ratings, indicating ongoing business expansion and development of its financial ecosystem [1][2]. Financial Performance - S&P maintained the long-term issuer credit rating of Freedom Holding Corp. at "B-" with a Stable outlook, while its key operating subsidiaries received ratings of "B+/B" with a Positive outlook [2]. - The group's financial results for the nine months ended December 31, 2025, showed a 25% increase in assets, a 24% growth in the loan portfolio, and a rise in the ratio of operating income to risk-weighted assets from 1.0% to 1.8% year over year [2]. Business Expansion - The increase in the holding company's debt is attributed to active business expansion and investments in new growth areas, particularly in brokerage and banking services [3]. - Freedom Holding Corp. issued $600 million in bonds in 2025 to finance expansion into new sectors, including telecommunications projects [8]. Risk Management - S&P noted the establishment of a unified risk management and compliance system across all financial subsidiaries, with a risk-adjusted capital (RAC) ratio above 12% supporting its credit profile [6]. - The Positive outlook on the operating subsidiaries reflects expectations of continued strengthening in risk control systems and market share expansion [7]. Strategic Initiatives - The company is investing in artificial intelligence and digital infrastructure, including projects involving NVIDIA technologies for high-performance computing [9]. - Freedom Holding is focused on creating a large-scale financial ecosystem as part of its strategic priorities [3]. Market Position - The company's growing international profile is highlighted by its inclusion in the Russell family of indices, attracting interest from leading institutional investors, including BlackRock [10]. - Freedom Holding Corp. provides financial services in 21 countries and is actively developing its financial and digital ecosystem in Kazakhstan [12].