Finance safety
The Central Bank of Russia will no longer use credit ratings from
Standard & Poor’s, Fitch, or Moody’s that were assigned after March 1,
2014.
All credit ratings given to Russian
companies and banks will now be at the discretion of the Board of Directors of
the Bank, according to a press
statement Monday. The regulator
will assess whether or not the ratings made after March are accurate.
“According to the Bank of Russia Board of
Directors’ decision, the rating date for credit institutions and their issued
financial instruments, including securities, to implement Bank of Russia
regulations, shall be 1 March 2014; as for other entities, listed in the
ordinance, and their issued securities, this rating date shall be 1 December
2014,” the press release said.
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