In June, S&P Global Ratings upgraded the long-term credit rating of Kazakhstan’s Freedom Bank to BB- with a stable outlook, while Moody’s Ratings assigned the bank a first-time Ba3 rating in March.
In June, S&P Global Ratings upgraded the long-term credit rating of Kazakhstan’s Freedom Bank to BB- with a stable outlook, also raising its national scale rating to kzA-. This marks the second rating upgrade in a year and a half: in December 2024, S&P raised it from B to B+. In March, Moody’s Ratings assigned the bank a first-time long-term deposit rating of Ba3 with a stable outlook. S&P analysts highlighted a significant strengthening of the bank’s compliance function, improved control over sanctions risks, and a focus on cybersecurity.
