S&P Global Ratings Upgrades Freedom Holding Corp. Subsidiaries to ’Positive’ Outlook

S&P Global Ratings has revised the outlook on Freedom Holding Corp.'s Core subsidiaries to 'Positive' from 'Stable', citing strengthened risk management and compliance frameworks. The upgrade applies to Freedom Finance JSC, Freedom Finance Europe Ltd., Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC, while maintaining their 'B+/B' credit ratings.

The holding company has implemented a centralized risk management system over the past two years, deploying 129 risk specialists and 162 compliance professionals across 22 jurisdictions. 'We've transformed fragmented controls into a unified, group-level system,' said CEO Timur Turlov, noting the maturity of their governance model.

This institutional progress comes as traditional finance firms increasingly adopt blockchain-adjacent operational improvements, mirroring the transparency and efficiency standards championed by crypto-native organizations.