Russia Rating Agency to Cooperate With Leading Chinese Research Firm

Russia Rating Agency to Cooperate With Leading Chinese Research Firm
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AP Photo/ Mark SchiefelbeinBusiness07:58 02.11.2017(updated 08:13 02.11.2017) Get short URL1591110

Russia’s Analytical Credit Rating Agency has said that such cooperation would be the largest bilateral rating partnership in terms of coverage, market size, and the size of the agencies involved.

MOSCOW (Sputnik) — Russia’s Analytical Credit Rating Agency plans to sign a pact with China’s leading researcher Golden Credit Rating International, ACRA’s chief executive told reporters Thursday.

“This will be the world’s largest bilateral rating partnership in terms of coverage, market size, and the size of the agencies involved,” ACRA CEO Ekaterina Trofimova said.

The Russian agency was set up in late 2015 by a group of Russian companies and has a capital of more than $51.6 million, while Golden Credit is run by the Chinese Finance Ministry through state-owned Сhina Orient Asset Management.

The two agencies will sign a memorandum of cooperation later in the day, Trofimova said, to conduct joint analysis, expand technological and information cooperation and raise each other’s profile among local investors and regulators.

Source.