The Bank of Russia has established criteria that a foreign credit rating agency must meet in order for its ratings to be used in Central Bank documents. This is stated in the message of the regulator.
The ratings of foreign credit rating agencies, which will meet the established criteria, can be applied by the Central Bank in regulation only in relation to foreign rating facilities on an international scale.
In total, the Bank of Russia has identified 19 criteria. In particular, in order to receive approval from the Central Bank, a foreign credit rating agency must have at least 5 years of work experience and a capital of at least 50 million rubles.
A credit rating agency should also have a methodology that contains quantitative and qualitative assessments of creditworthiness and makes it possible to verify the reliability of credit ratings, including on the basis of historical data.
In addition, the agency is obliged to adhere to the principles of corporate governance, comply with the conditions for information disclosure and avoid conflicts of interest.
