Akfa Aluminium’s 'B+/B' credit rating reflects strong future leveraging Uzbekistan’s global industrial position
Akfa Aluminium, Uzbekistan's leading manufacturer of aluminium and PVC profiles, has reportedly received 'B+/B' long and short-term issuer credit ratings from S&P Global for demonstrating a stable outlook in the Central Asian market. In 2023, Akfa emerged as the largest producer of aluminium and PVC profiles in Uzbekistan and Central Asia, with a sales figure of UZS 4.3 trillion (approx. $347 million).
The company, with its revenue and business size, controls 62 per cent of aluminium profiles market and 55 per cent of PVC profiles market in Uzbekistan. Uzbekistan, a Central Asian country, is gradually taking a key position in the world with its industrial developments. According to the survey revealed by the Institute of Macroeconomic and Regional Research (IMRI), industrial production in the Central Asian country rose 6 per cent at the end of 2023, achieving favourable growth rates in all the key sectors, including ferrous and non-ferrous metal industries. In 2022, Uzbekistan ranked as the world's 59th largest aluminium bars exporter and 63rd largest importer, registering an export value of $32.5 million and an import value of $57.5 million.
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