Sick of getting downgraded, Russia is launching its own new rating company that will be immune to geopolitical risks. “The Russian market needs a strong credit rating agency with a high level of corporate governance and professional competence, capable of satisfying the interests of the economy [that is] authoritative enough for Russian and foreign investors,” according to statement released by the Central Bank of Russia on Friday. “Rating agencies are one of the most important elements of financial-market infrastructure and their activity should be resilient to various factors, including geopolitical risks,” according to the statement. In other words, the statement …read more
Source: Business Insider
