The Central Bank of Russia introduced new requirements for credit rating agencies to publish additional information on credit ratings they assign and related rating forecasts on their websites from 1 October 2025, with the stated aim of standardising disclosure practices. CRAs must explain how the most significant factors affecting a rated entity’s ability to fulfil its financial obligations influence the rating. They must also disclose the assignment of an 'under supervision' status, including the grounds for it and the period for which it will be maintained, noting that this status indicates the rating is highly likely to be revised in the near future. In addition, CRAs must disclose their assessment of a company’s standalone creditworthiness, excluding external factors that could raise or reduce the credit rating.
Central Bank of Russia 2025-10-01
Central Bank of Russia sets new disclosure requirements for credit rating agencies on rating drivers, 'under supervision' status and standalone creditworthiness
Starting 1 October 2025, the Central Bank of Russia requires credit rating agencies to enhance transparency by publishing detailed credit ratings and forecasts online. Agencies must clarify significant factors affecting a rated entity's financial obligations and disclose 'under supervision' status details, indicating potential near-term rating revisions. They must also assess a company's standalone creditworthiness, excluding external influences.