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11/25/15 5:47 PM

#499 RE: SHEEPWOLF #498

RAEX affirms credit rating of IC Freedom Finance

http://www.akm.ru/eng/news/2015/july/14/ns5266376.htm

On July 10, 2015, RAEX (Expert RA) Rating Agency affirmed the long-term credit rating of IC Freedom Finance at 'A', sub-level 1, with a stable outlook, the agency informed.

IC Freedom Finance LLC specializes in brokerage and dealer activities in the Russian securities market, agency for attracting clients interested in brokerage services, with access to international financial markets.

The positive rating drivers include the low debt burden, the moderately high profitability, the high liquidity ratios, the equity capital increase, the availability of leveraged financing opportunities, the high capital adequacy, the absence of overdue accounts payable and receivable, etc.

The rating was constrained by the low business diversification, the low diversification of debt structure, the absence of insurance protection, the moderately high share of accounts payable in liabilities, the moderately high share of accounts receivable in assets and other factors.

IC Freedom Finance is headquartered in Moscow. As of December 31, 2014, the company's assets totaled RUB 531 million, equity capital was RUB 402 million. Revenue for 2014 was RUB 70 billion, net profit was RUB 65 million.