Fitch Ratings assigns a “BB” credit rating to BI Development Ltd
On September 4, the international rating agency Fitch Ratings assigned a long-term “BB” credit rating with a “Stable” outlook to BI Development Ltd., a subsidiary of the BI Group holding. BI Development became the first and only representative of the construction industry in Central Asia to achieve such a rating level. Among private companies in Kazakhstan, a similar rating is held by several second-tier banks.
In its report, Fitch, a member of the “big three” (alongside Standard & Poor's and Moody's), notes that BI Development demonstrates stable growth and strong financial performance, making it one of the leaders in the construction industry.
Fitch also highlights that BI Development has high liquidity reserves, allowing the company to manage its assets effectively and respond flexibly to changes in the market environment. The company’s solid financial results, combined with a well-thought-out development strategy, create favorable conditions for its continued growth.
“The rating reflects BI Development's leading position in the growing Kazakhstani market and the company’s low debt burden. BI Development enjoys a strong brand reputation in Kazakhstan due to its role as one of the key developers in the region. The company is responsible for comprehensive planning, development, and management of large-scale real estate projects. Since 2022, the company has been actively expanding its presence abroad,” the Fitch Ratings report states.
The confirmation of the high rating opens new horizons for BI Development, enabling the company to attract more favorable investments and expand its network of business partners on the international stage.
“Receiving the Fitch 'BB' rating with a 'Stable' outlook is a significant milestone for BI Development and the entire BI Group holding. This rating confirms not only the stability and transparency of our financial policy but also our readiness for further development and expansion into new markets. We are proud to be pioneers in the construction industry of Central Asia, and we are confident that this recognition will open up new opportunities for attracting investment and implementing large-scale infrastructure projects. Our partners and clients can be assured that BI Development will continue to meet high expectations, offering innovative solutions and adhering to the best quality standards,” said Amangeldy Omarov, CEO of BI Development Ltd.