The Bank of Russia Board of Directors adopted a decision stipulating the use of ACRA-assigned credit ratings of ВВВ(RU) or above starting July 14, 2017 as a prerequisite for bonds issued by RF subjects, municipalities, and legal entities domiciled in the Russian Federation, as well as for bonds of mortgage companies and mortgage-secured bonds, for the inclusion in the Bank of Russia Lombard List.
The relevant news has been published on the Bank of Russia official website on April 14, 2017: http://www.cbr.ru/press/PR.aspx?file=14042017_180002if2017-04-14T17_37_16.htm).
In compliance with the decision by the Bank of Russia, starting July 14, 2017 only credit ratings assigned by ACRA shall be used as a criterion for the inclusion of securities by RF rated entities in the Lombard list.
“The fact that the regulator has decided to use ACRA-assigned ratings for drawing up its Lombard List indicates that the Bank of Russia finds the ratings assigned by ACRA trustworthy and has acknowledged the Agency’s analytical expertise. It also says that our methodologies are in full conformity with the Russian laws,” commented ACRA CEO Ekaterina Trofimova. “This decision by the Bank of Russia may have positive impact on ACRA-rated issuers by increasing both liquidity and investment attractiveness of their securities.”
ACRA also continues to conduct regular credit analysis trainings and is currently offering enrollment into its June 22–23, 2017 course on corporate credit analysis. All participants will be issued certificates of completion. Cost is RUB 45,000 plus VAT per person. The full list of ACRA trainings is available at https://www.acra-ratings.ru/trainings. To sign up, please contact Irina Chikleeva via phone +7 (495) 139 0480, ext. 116, or at email@example.com.
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