Credit ratings

This section presents independent credit ratings of AKFA Holding’s key operating subsidiaries, reflecting the strength of their financial models, balanced capital structures, and ability to generate stable operating cash flows.

Current credit ratings

BB+ / Stable
AKFA Aluminium
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The rating reflects a solid position in the aluminum extrusion and construction materials sectors, strong profit margins, and diversified export markets.
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BB+ / Stable
BB+ / Stable Artel Electronics
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The rating is based on a robust R&D investment cycle, an extensive distribution network in consumer electronics, and consistent operating profitability.
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Investor benefits

Revenue diversification across geographic regions and product segments
Vertical integration in production chains, reducing reliance on external suppliers
Operating margin levels and ability to generate free cash flow
Capital expenditures and funding policy — a balance between growth and debt servicing
Macroeconomic stability in the regions where subsidiaries operate
Credit ratings AKFA HoldingCredit ratings AKFA Holding

Methodology & documents

You can download the full archive of rating reports and updates in PDF format

IR contacts

For more detailed information and access to the Investment
Memorandum, please contact our Investor Relations team.

Ellipse 5 (2)

Alisher Khakimov

Investor Relations Manager

Ellipse 5 (3)

Dilnoza Rakhimova

Senior IR Specialist

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