In view of the mandates of three Management Board members expiring in May, the Supervisory Board of JSC Development Finance Institution Altum decided on 02.04.2024 to elect Reinis Bērziņš, Jēkabs Krieviņš and Inese Zīle to the Management Board of Altum for a new term of office – three years. Out of the elected Management Board members the Supervisory Board appointed Reinis Bērziņš as the Management Board Chairman of JSC Development Finance Institution Altum. Also Ieva Jansone-Buka and Juris Jansons  continues to hold the post of Management Board member.

JSC Development Finance Institution Altum is a Latvian state-owned company providing enterprises and households access to financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy, and enhancing mobilization of the private capital and financial resources. On 2 February 2024 Moody’s Investors Service (Moody’s) affirmed the Company’s Baa1 long-term issuer rating, with outlook stable, following update of rating methodology. The rating and the short-term issuer rating at P-2, same as affirmed on 16 December 2022 and have remained at the same level since 2017. As of 2 February 2024, the Altum’s stand-alone assessment set at current baa3 replaces the withdrawn Baseline Credit Assessment. The assigned Moody’s rating of Altum is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga.

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.: +371 26165699
         E-mail: Laura.Lapkovska@altum.lv