S&P Global assigns AKFA Aluminium LLC a first-time rating of B+/B, Stable Outlook

TASHKENT, Uzbekistan, Sept. 16, 2024 /PRNewswire/ -- On July 18, 2024, AKFA Aluminum LLC (Akfa), Central Asia's leading plastic and aluminum profiles in manufacturer and one of the largest private industrial companies in Uzbekistan, has received a first-time S&P Global rating of B+/B with a stable outlook. Receiving a credit rating from an agency that is one of the Big Three is an important step in the further transformation of AKFA Aluminum LLC.

In its publication, S&P Global praised AKFA's "dominant franchise on the rapidly expanding Uzbekistan building materials market" and "the group's well-invested asset base and substantial automatization". The rating follows a rigorous assessment of the company's financial and commercial position, and provides an independent benchmark of the its reliability as a borrower. [1]

Business reforms in Uzbekistan have enabled the country's leading companies to access international financing opportunities and explore foreign markets. In this regard, Akfa Aluminium is successfully revising its existing processes to follow international best practices in corporate governance, financial reporting and ESG.

Bakhodir Abdullaev, CEO of Akfa Aluminum LLC, said that receiving a credit rating opens a new stage in the company's development.

«The credit rating from S&P Global opens up new opportunities for AKFA Aluminium to expand its business, attract foreign investment and strengthen its position in the global market. In addition, it gives the company access to international capital markets, which will allow it to attract the necessary resources for further growth», — Bakhodir Abdullaev said.

Bakhodir Abdullaev, CEO AKFA Aluminium LLC

According to CFO of AKFA Aluminium LLC Sirojiddin Khayrullaev, "This moment follows months of hard work by the team at Akfa Aluminium as we work to align ourselves with the best global standards of corporate governance".

Sirojiddin Khayrullaev, CFO AKFA Aluminium LLC

About Akfa

AKFA was founded in 2000. Currently, AKFA is the largest manufacturer of aluminum and PVC profiles in Uzbekistan and one of the largest in Central Asia. Currently, the company's enterprises employ about 8 000 people. AKFA products are exported to more than 30 countries, including the United States, Canada and the EU, CIS and MENA countries.

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SOURCE Akfa Aluminium