Moody’s announced the withdrawal of all ratings on a national scale in Russia – Rosbalt.RU

March 18, 2016, 09:34 | crisis | Russian ratings | Moodys

 A subsidiary of the international rating agency Moody’s Investors Service – Moody’s Interfax – announced that it has withdrawn all ratings on the national scale, assigned to about 150 Russian issuers, including the largest banks and companies

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 “This decision was made in light of legislative changes, as well as other potential restrictions on business for Assigned national scale rating to Russia. In particular, the expected requirements for structural and operational independence will limit “Moody’s Interfax” in its capabilities to use global resources Moody’s “, – quotes” Interfax “agency statement

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 The decision to terminate the assignment of national ratings, Moody’s announced, does not apply to the ratings assigned by the international scale.

 As recalled by TASS, in July 2015, Russian President Vladimir Putin signed a law on the requirements for the activities of credit rating agencies in Russia.

 According to the document, the rating activity in the territory of the Russian Federation shall have the right to exercise legal entities established in the legal form of business entity, after the introduction of the Bank of Russia data on them in the register of credit rating agencies. The law also provides for a minimum equity of the rating agency in the amount of RUB 50 million.

 However, March 14, Deputy Finance Minister Alexei Moiseev argued that international rating agencies willing to work in Russia in the framework of the current legislation.

 Earlier, another international rating agency of “the big three» – Fitch – has stated that due to the imminent entry into force of the new legislation may also refuse to maintain Russia national scale ratings

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