S&P Global Ratings has upgraded the long-term credit rating of Cypriot company Freedom Finance Europe LTD., which is headquartered in Limassol and operating under the Freedom24 brand, to “B+” from “B”, reflecting the Cypriot company’s ongoing progress and strengthening position in international markets.

This upgrade represents a significant achievement for the country’s financial landscape, highlighting the growth and stability provided by local firms like Freedom24 Europe. Such international recognition enhances trust from prominent foreign stakeholders in Cyprus’s banking and credit system, which positively impacts the economy and broader development of the island.

The upgrade of Freedom24’s long-term credit rating coincides with a steady rise in the stock price of Freedom24’s parent company Freedom Holding Corp. (FRHC), which reached $133.92 per share on December 12, 2024. The company’s market capitalization surpassed $8 billion, marking a 60% increase since the beginning of the year. This growth demonstrates significant progress, as the company’s stock value has nearly multiplied ninefold since its listing on Nasdaq five years ago, affirming strong investor confidence and business stability for the company within the global financial landscape.

Evgenii Tiapkin, Executive Director of Freedom24, stated: “This milestone underscores our commitment to innovation and strengthening trust in the markets we operate. The Cypriot ecosystem offers conditions for growth and collaboration, enabling us to deliver benefits to our customers while contributing to the local economy. We remain committed to the highest standards of regulatory compliance and risk management.”

Simultaneously, S&P also raised the long-term credit ratings of the subsidiaries Freedom Finance JSC, Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC to “B+”, while confirming their short-term ratings at “B.” The long-term credit rating of the parent company, Freedom Holding Corp., remains at “B-.”

In conclusion, this upgrade serves as another resounding success for Freedom24, as it reflects the company’s commitment to excellence, by providing reliable financial solutions for European clients, through services whose effectiveness and stability have been recognised on a global scale. This achievement highlights the value that Freedom24 offers to the Cypriot economy, and how hard work, dedication, and expertise always pay dividends.

Freedom24 is a trusted Cypriot online stock broker, located in Limassol with expertise in the US, European and Asian stock markets.

It offers European clients a comprehensive solution for successful investments, including direct access to major stock exchanges, expert securities analytics, and dedicated client support.

Freedom24 provides both domestic and international clients with access to American and other global stock exchanges, alongside a wide array of financial market services tailored to meet clients' short and long-term financial objectives.