Bank of Russia has put in the register of branches and representative offices of the foreign credit agencies data of branches of «G3» — Moody's, S&P and Fitch, presented in the regulator’s materials.
«On April, 14, 2017 Bank of Russia made a decision to put on the register of branches and representative offices of the foreign credit rating agencies data of the branch of a private LLC «Standard and Pures Credit Market Services Europe Limited (Moscow)..., of a branch of LLC „Moody’s Investor’s Service Limited“ (Moscow)..., of a company branch „Fitch Ratings CIS Ltd“ (Moscow)», — said the regulator.
According to new legislation, Russian authorities are proceeding to using in regulatory purpose, only the ratings on the national scale and only from accredited agencies. Among the accredited by Bank of Russia players are recently founded Analytical Credit Rating Agency (ACRA) and «Expert RA» (RAEX)
Being on the register of Central Bank the branches of «G3» Moody's, S&P and Fitch are allowed to proceed with their activities in Russia. However, in order to use their ratings in regulatory purposes, they must open not branches but subsidiaries in Russia.