MicroFinanza Rating has confirmed ACF’s Grade BB; “Outlook Stable”

Almaty, Kazakhstan – On the 10th of October, 2013 MicroFinanza’s Rating Committee confirmed ACF’s grade BB and “Outlook Stable” status, which was previously assigned by MicroFinanza Rating to Microcredit Organization Asian Credit Fund LLC (ACF) in February 2013. The rating team visited ACF in November 2012 using September 2012 as cut-off period for the financial and operational data analysis.
In 2013, ACF continued to demonstrate healthy and profitable growth. Currently, ninety percent of ACF’s loan portfolio consists of group loans disbursed to households from remote, rural areas. As of the end of September 2013, ACF’s loan portfolio has reached $5.7 mil, and is spread throughout more than 8,000 clients. Furthermore, Portfolio at Risk of more than 30 days constituted 0.3 percent of the gross loan portfolio while Loan Loss Reserve equaled 5.5 percent. Since 2012, ACF has also conducted a Residential Energy Efficiency Lending Program, which was supported by a USAID loan guarantee. Since the program’s launch, ACF has helped 232 rural citizens, with a total amount of $726,000, to improve their living conditions through the introduction of simple energy efficiency measures.