/KASE, May 29, 2025/ – MFO "Mogo Kazakhstan" LLP (KASE ticker – MFMO)
announces the following:
quote
International rating agency Fitch Ratings has assigned Jet Finance (legal entity
TOO MFO Mogo Kazakhstan (Mogo Kazakhstan)) long-term issuer default
ratings (IDR) in foreign and national currencies at "B-" with a "Stable"
outlook. Fitch also assigned the company a national long-term rating of
"B+(kaz)" with a "Stable" outlook. Jet Finance became only the sixth company in
the history of Kazakhstan from the consumer finance sector to receive such a
rating.
The assigned rating reflects Jet Finance's sustainable business model, focused
on secured lending to clients with limited banking history, primarily secured by
cars, as well as a digital approach to approval and servicing processes. Fitch
specifically noted the high marginality of the business, gradual diversification
of funding sources and the growing scale of operations. The assignment of an
international rating opens up new horizons for Jet Finance – including in
attracting funding, launching new products and entering wider partner markets
both in Kazakhstan and abroad.
unquote
The full version of the press release is available at
https://kase.kz/files/emitters/MFMO/mfmo_relizs_280525_2.pdf
[2025-05-29]