S&P Global Ratings has revised its outlook for Freedom Finance Europe Ltd., which operates under the Freedom24 brand, from stable to positive.

At the same time, the credit rating agency affirmed the company’s long- and short-term issuer credit ratings at ‘B+/B’.

The improved outlook, the agency explained, reflects the company’s efforts to strengthen its risk management framework and its continued rapid expansion across Europe.

S&P also revised the outlook to positive for several other subsidiaries of Freedom Holding Corp., including Freedom Finance JSC, Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC.

These subsidiaries also retained their ‘B+/B’ long- and short-term credit ratings.

The long-term credit rating of the parent company, Freedom Holding Corp., was affirmed at ‘B-‘ with a stable outlook.

S&P highlighted that the group had made significant strides in enhancing its risk management and compliance structure.

“Over the past two years, Freedom Group has established consolidated risk management and compliance and has greatly strengthened these functions in its financial operating subsidiaries” the agency said in its statement.

S&P added that” these improvements are particularly critical given the group’s organisational complexity and its rapid growth through both organic expansion and acquisitions”.

The agency further mentioned that the group’s capitalisation has improved, supported by steady revenue from brokerage services.

Customer engagement through its digital ecosystem was also identified as a positive contributing factor.

In May 2025, Freedom Holding Corp.’s market capitalisation surpassed $10 billion dollars. This marked a twelve-fold increase since its Nasdaq initial public offering in 2019.

Evgenii Tiapkin, Executive Director of Freedom24, welcomed the decision by S&P. “This outlook upgrade reflects the significant progress we’ve made in strengthening our risk management and compliance systems, which are foundational to our long-term strategy” he said.

He also stated that “it also acknowledges our rapid expansion across European markets and our focus on building a customer-centric, technology-driven financial ecosystem”.

“We’re proud to see our efforts recognised by S&P as we continue to strengthen our position as a trusted partner for investors across Europe and globally,” Tiapkin added.

Furthermore, Freedom24 said it “remains committed to further enhancing its risk and compliance frameworks”.

It added that it would also “continue expanding its portfolio of innovative financial services across Europe and beyond”.