AKFA Aluminum LLC (Akfa), 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, CEO AKFA Aluminium LLC
“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