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Russia now has its own rating agency

Staff writer ▼ | December 12, 2015
Russia has launched its own rating agency as it seeks to counterbalance the influence of Western agencies.
Vladimir Putin
Ratings   Going against the influence of Western agencies
"Upon completion of the state registration of a legal entity, Analytical Credit Rating Agency (ACRA) starts its operating activities," an official statement said.

The project by Russia's central bank is one of a number of attempts by emerging nations to fight back against the domination of Standard & Poor's, Moody's and Fitch.

Karl Johansson, who worked for EY for 20 years, was elected chairman, while former number two at Russia's Gazprombank, Ekaterina Trofimova, was named executive director.

Moscow slammed the decisions by leading agencies Standard & Poor's and Moody's to cut Russia's debt rating to "junk" as politicised.


 

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