S&P Revises Outlook on Freedom Holding Corp. and Core Subsidiaries to Positive

S&P Global upgraded the outlook on Freedom Holding Corp. and its four core subsidiaries from stable to positive, while raising national-scale ratings for Freedom Finance JSC and Freedom Bank Kazakhstan JSC. The positive outlook reflects improved corporate governance, risk management, and diversified earnings across geographies. The upgrade follows S&P's recent upgrade of Kazakhstan's sovereign credit ratings to BBB/A-2, citing resilient economic growth and stronger regulatory oversight.