11 Jun 2021
On June 9, Fitch Ratings announced that it had assigned Microfinance organisation KMF LLC a Long-Term Issuer Default Rating (IDR) of ‘B+’ with Stable Outlook.
“The strengths of KMF are its long record of stable operations, a leading market share in the microfinance market and a low credit risk,” Fitch analysts reported.
The rating by Fitch confirmed the high level of corporate governance, financial transparency and impeccable reputation of KMF among foreign and local investors.
- This rating reflects the company’s stable position and will have a positive impact on the decision for KMF to enter new sources of funding, primarily the stock exchange, - said Olga Yugay, CFO of KMF.
Additional factors that also contributed to the positive assessment of KMF were the focus of KMF’s business model on solving social issues and financial inclusion for rural residents and self-employed citizens. This is reflected in the ESG score of ‘4’ out of ‘5’ for Exposure to Social Impacts.
- Since its establishment, KMF has been actively developing women’s entrepreneurship, expanding the villagers’ access to funding and implementing a massive financial literacy project, which has already reached over 160 thousand citizens of Kazakhstan. The rating from Fitch, one of the largest rating agencies, is an important event for us, which confirms a positive trend in the company’s development, - said Shalkar Zhussupov, CEO of KMF.