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31.01.2011
Credit-Rating CEO elected to EACRA Board
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it the General Assembly of European Association of Credit Rating Agencies (EACRA) has decided on electing Credit-Rating CEO Stanislav Dubko to the EACRA’s Board of Directors. Representatives of another 3 European rating agencies (namely Italy-domiciled CRIF, Germany-domiciled PSR Rating, and Turkey-domiciled JCR Eurasia Rating) have been elected to the Board as well as the EACRA President Thomas Missong. The Credit-Rating CEO noted that ‘participation of a representative of Ukrainian rating agency in EACRA Board of Directors acknowledges the importance of Ukrainian experience in rating activities for European markets and is a convincing argument for endorsement and use of Ukraine-produced ratings by investors in the EU economies’.
In March 2010 Credit-Rating became a member of European Association of Credit Rating Agencies which was established in 2009 and headquartered in Paris to promote the interests of European credit rating agencies. A key objective of Credit-Rating’s participation in EACRA is transferring European principles of regulation of rating agencies to the Ukrainian financial sector. On October 27th, 2010 the EACRA President Thomas Missong conference by Credit-Rating’s invitation took a part in a round table which was devoted to the theme ‘Regulation of Rating Services Market: What Should Be Changed?’, and had working meetings with representatives of Ukrainian State Commission for Securities and Stock Market.
In 2011 EACRA will continue active cooperation with regulators of EU financial markets in order to make enhancements to the legislation that affect rating services market n accordance with the Regulation 1060/2009 that introduces procedures for regulatory use of credit ratings and the requirements to rating agencies. EACRA will also facilitate in exchanging experience between European rating agencies in order to reinforce their influence and to decrease dependency of European financial markets upon three leading international agencies – Standard and Poor’s, Moody’s, and Fitch, by creating new efficient ways of cooperation between local agencies.
Credit-Rating agency has operated in the Ukrainian market since 2001 being committed to assignment of the national scale ratings. Mr Stanislav Dubko has been a head of Credit-Rating starting from the agency’s foundation, and since 2010 Mr Dubko has been a member of the Strategic Group and Consulting and Expert Council of the State Commission for Securities and Stock Market.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in THOMSON REUTERS and BLOOMBERG information systems.
For more information, please contact:
Department of
Information and Communications
Sergey Rozumyak +38044490 25
50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
