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S&P and Moody's may curtail operations in Russia

We are talking about a substantial reduction in business.

25.Nov.15 10:15 AM
By Svetlana Siuhina


S&P and Moody's may curtail operations in Russia
International rating agencies can significantly reduce its activities in Russia. RBC reports referring to a source. The reason for this are not only Russian law, but also the requirements of the ECB.

At the request of the European regulator rating agencies operating in the EU we have had in this territory the parent company. Currently, the rating committee of S & P, Fitch and Moody's in London, in Russia operate their branches. Thus, the regulator of the EU does not recognize the child as a representation of the rating agencies and their ratings - international.

Under Russian law, if the rating agency wants to make ratings on the national scale, it should have a subsidiary in Russia. This requirement would oblige the agency to start from the starting position, translated into Russian all internal documentation, which will entail high costs.

Earlier, we wrote that in Russia the idea of creating a national rating agency.

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