The Bank of Russia has approved the methodologies of two credit rating agencies for assigning non-credit ratings to ordinary shares. This is reported on the regulator's website.
This is a new product that represents an assessment of the fair value of companies. It will become an additional guideline for investors when making investment decisions, the Central Bank emphasizes.
The regulator has included National Credit Ratings LLC and National Rating Agency LLC in the pilot. When evaluating issuers, credit rating agencies will take into account how companies comply with corporate laws, including investor protection standards, then assign asterisks to shares and provide ratings with advanced analytics.
The first issuers to be rated will be companies from the shareholder value creation program.
By the end of the year, the Central Bank will analyze the experience gained and, if it turns out to be positive, consider the possibility of applying stock ratings in financial regulation.
