[ad_1]
By Pattern
On Wednesday 6th July,
Fitch Rankings (Fitch) affirmed Artel Electronics LLC (Artel),
Central Asia’s largest dwelling equipment and electronics producer,
at B, Outlook Secure.
Alongside recognizing export development, the ranking company famous the
firm’s “main market place” and “sustained income
visibility”. Considerably, Fitch additionally praised the corporate’s
“materials enhancements” in company governance, the consequence
vital work undertaken by Artel on this course in current
years.
Artel is certainly one of Uzbekistan’s largest corporations and most
recognizable manufacturers. The corporate was based in 2011 with restricted
product strains. Since then, the corporate has grown to provide a large
vary of family home equipment and electronics, with round 10,000
staff working in all areas of Uzbekistan, and over 20
export markets.
Final 12 months, Artel grew to become Uzbekistan’s first personal manufacturing
firm to realize a credit standing from one of many “Massive Three”
worldwide ranking businesses. Current enterprise reforms in
Uzbekistan have enabled personal corporations like Artel to
restructure, entry worldwide financing alternatives and
discover overseas markets. In 2022, the corporate issued its first bond
on the Tashkent Inventory Trade.
Shohruh Ruzikulov, CEO, Artel Electronics LLC, mentioned: “We’re
very happy that Fitch has affirmed our ranking this 12 months. In 2021,
the worldwide provide chain disaster impacted the whole manufacturing
business and constrained our development. The affirmation of our ranking
is consultant of our succesful navigation of those
challenges.
We’re additionally notably happy that our enhancements in
company governance have been acknowledged. Artel is working onerous to
strengthen our place and align with worldwide finest observe
throughout all areas of ESG.”
The Fitch ranking supplies Artel with an impartial benchmark of
the corporate’s place as a borrower. It follows a rigorous annual
evaluation of the corporate’s monetary and business place, each
now and in relation to forecasts and predictions from earlier
years.
—
Comply with us on Twitter @AzerNewsAz
[ad_2]
Source link
