Akfa Aluminium, the largest manufacturer of PVC and aluminium profiles in Uzbekistan and one of the leading industrial companies in Central Asia, has received its first-ever credit rating from S&P Global. The agency awarded Akfa a B+/B rating with a stable outlook, marking a significant milestone in the company's expansion efforts.

Founded in 2000, Akfa Aluminium is a key player in Uzbekistan’s rapidly growing building materials market. The company employs around 8,000 people and exports its products to more than 30 countries, including the United States, Canada, the EU, as well as CIS and MENA regions.

S&P Global highlighted Akfa’s “dominant franchise on the rapidly expanding Uzbekistan building materials market” and praised its “well-invested asset base and substantial automation.” The credit rating, which comes after a rigorous assessment of the company’s financial and commercial position, provides an independent benchmark of Akfa’s reliability as a borrower, enhancing its access to international capital markets.

Bakhodir Abdullaev, CEO of Akfa Aluminium, said the rating would open new doors for the company as it seeks to expand its global footprint. “The credit rating from S&P Global opens up new opportunities for Akfa Aluminium to expand its business, attract foreign investment and strengthen its position in the global market. In addition, it gives the company access to international capital markets, which will allow it to attract the necessary resources for further growth,” Abdullaev noted.

Uzbekistan’s recent business reforms, aimed at improving access to international financing and promoting corporate governance, have paved the way for leading companies like Akfa to align with global standards. The company has been revising its corporate governance and financial reporting processes, as well as its approach to environmental, social, and governance (ESG) standards.

“This moment follows months of hard work by the team at Akfa Aluminium as we work to align ourselves with the best global standards of corporate governance,” added Sirojiddin Khayrullaev, CFO of Akfa Aluminium.

As Akfa Aluminium continues to modernise and expand, the S&P Global rating is expected to bolster its credibility among international investors and lenders, offering the company greater access to the capital needed to drive future growth.