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01.12.2005
"Credit-Rating" agency summed up its operation results for 4 years
The briefing «Credit-rating» agency’s operation results during 4 years. Development outlook» took place on the 29th of November 2005. The participants were: President of «Credit-rating» agency - Mr. Alexander Ginzburg, General Manager – Mr. Stanislav Dubko, the member of the agency’s International Advisory Council – Keith Smith and different media representatives.
While opening the briefing, Mr. Ginzburg emphasized recent significant
increase of investments inflow due to transparency and objectivity of rating procedure.
In Mr. Ginzburg’s opinion, one of the main agency’s operation results is the increase of
foreign investors’ number in 2005. “Kharkiv city exemplifies this, when 70% of bonds
issue for 100 million UAH was bought by non-residents. It came out of information
disclosure connected with financial risks”, - stated Alexander Ginzburg.
Mr. Ginzburg commented on statements of obligatory ratings opponents: “When it was announced that rating system would be a drag on Ukrainian security market, the market grew almost twice”.
Since its foundation, rating agency rendered services on independent evaluation of issuers’ credit quality with credit rating assignment, according to national Ukrainian scale, to more than 170 Ukrainian enterprises.
“The agency has necessary knowledge and resources for further development in many new directions”, said General Manager Mr. Stanislav Dubko.
Independent rating agency “Credit-Rating” was the first in Ukraine to work out and employ National credit rating scale, as well as special rating assessment methodology for different types of borrowers: enterprises, financial institutions and local authorities.
Since 2003 rating assignments are certified by the Ministry of Finance of Ukraine. Since 2004 “Credit-Rating” agency is authorized by the State Commission for Securities and Stock Market of Ukraine to assign credit ratings to economic subjects, economic branches and regions. In September 2005 the agency founded International advisory Council in the USA to support its strategic development and secure internationally accepted standards and working schedules.
