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Press-release UPASICS: The official position of SSMSC: “Credit-Rating” is unauthorized rating agency, that’s why its credit ratings won’t be accepted by the regulator!


06/07/2011

Press-release UPASICS:

 

The official position of SSMSC: “Credit-Rating” is unauthorized rating agency, that’s why its credit ratings won’t be accepted by the regulator!

July 6th, 2011 SSMSC has published the explanation “About some standards of providing ratings to the issuers” on its web-site. These explanations are adopted by the Decision of SSMSC №846 from 30.06.2011 and are official. In its Decision the regulator of securities market explains that “Credit-Rating” LLC. is deprived of the status of authorized rating agency, therefore, its credit ratings can’t be used for the regulatory purposes. Issuers reporting of 2011 provided to SSMSC should comprise information about credit ratings assigned only by the authorized rating agencies. For now, in order to maintain stability in the market of rating services, SSMSC still accepts credit ratings of “Credit-Rating” if they have been given before 15.03.2011.

Full version of press-release is on the web-site of UPASICS

Full text of Explanation by SSMSC

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