: :inin Kyiv (EET)

Russia created a credit rating agency, which is great for Russia because it’ll ignore one key type of risk


Sick of getting downgraded, Russia is launching its own new rating company that will be immune to geopolitical risks. “The Russian market needs a strong credit rating agency with a high level of corporate governance and professional competence, capable of satisfying the interests of the economy [that is] authoritative enough for Russian and foreign investors,” according to statement released by the Central Bank of Russia on Friday. “Rating agencies are one of the most important elements of financial-market infrastructure and their activity should be resilient to various factors, including geopolitical risks,” according to the statement. In other words, the statement …read more

Source: Business Insider

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