The international rating agency Fitch Ratings has upgraded the outlook of the Uzbek Commodity Exchange (UZEX) from “stable” to “positive” and confirmed the company’s international rating at “B”.

The outlook revisions reflect UZEX's improving counterparty exposure and an enhanced operating environment following Uzbekistan's upgrade.

The agency’s assessment also took into account a reliable business model that does not require debt, a low level of financial risks, stable profitability, as well as the exchange’s significant role in development of market infrastructure in Uzbekistan.

This rating confirms UZEX transparent business strategy, transparent financial reporting, and developed corporate governance system, while also enhancing the confidence of local counterparties and foreign investors in the exchange’s activities.

For reference: Fitch Ratings is an American corporation, known as an international rating agency. The company specializes in providing independent and forward-looking credit ratings, analytical insights, and data on global credit markets.

Source: DEPARTMENT OF MASS COMMUNICATIONS AND FOREIGN ECONOMIC ACTIVITY