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12.10.2011
Appeal Court reinstated Credit-Rating’s status of an authorized rating agency
October 11th 2011, Kiev City Appeal Administrative Court ruled as unlawful and abolished Resolution No.246 of the National Commission for Securities and Stock Market (NCSSM) dated 15 March 2011 on withdrawal of the status of authorized rating agency from Credit-Rating. The Court decision has come into force starting from the date of its pronouncement (11 October 2011). Credit-Rating’s legal claims have been fully satisfied. The Court decision will allow Credit-Rating to renew activities on assignment of those credit ratings obligatory by the current legislation.
According to Mr. Stanislav Dubko, Credit-Rating CEO, ’the reform of credit rating services market recently launched by NCSSM, would improve its regulation and that would allow to avoid disputes during credit rating agencies recognition procedure as well as during further regulatory oversight of their activities. That would also serve to strengthen confidence in Ukrainian credit rating agencies to the benefit of all financial market participants’.
Founded in 2001, Credit-Rating render services on assignment of credit ratings atthe Ukrainian National Rating Scale and has assigned 1136 credit ratings up to date. Credit-Rating is a member-founder of the European Association of Credit Rating Agencies (EACRA).
Information on all credit ratings can be found in THOMSON REUTERS and BLOOMBERG information systems.
For more information, please
contact:
Mr. Alexey Kapustinskiy
+380 44 490 2550
AKapustinskiy@credit-rating.ua
