The Central Bank of Russia has established approval criteria for foreign credit rating agencies (CRAs) so that their ratings can be used in Bank of Russia regulations and other official documents. The framework limits use of recognised foreign CRA ratings to foreign rated entities and to ratings issued on an international scale. To be approved, a foreign CRA must have at least five years of market experience and capital of at least RUB 50 million. Its methodology must combine quantitative and qualitative assessments of creditworthiness and allow verification of ratings, including using historical data. The criteria also cover corporate governance principles, disclosure requirements, and measures to prevent conflicts of interest, with 19 criteria set in total.
Central Bank of Russia 2025-02-10
Central Bank of Russia sets 19 criteria to recognise foreign credit rating agencies for regulatory use
The Central Bank of Russia has set criteria for foreign credit rating agencies (CRAs) to use their ratings in official documents, limiting use to foreign-rated entities and international scale ratings. Requirements include at least five years of market experience, RUB 50 million in capital, and a methodology combining quantitative and qualitative assessments. The criteria also address corporate governance, disclosure, and conflict of interest prevention, totaling 19 criteria.