ACRA (rating agency)

Analytical Credit Rating Agency
Industry Financial services
Founded 2015
Headquarters Moscow, Russia
Key people
 Yekaterina Trofimova (CEO)
Website acra-ratings.com

ACRA (Analytical Credit Rating Agency; Russian: Аналитическое Кредитное Рейтинговое Агентство) is a rating agency based in Moscow, Russia. It was established in 2015,[1] with Yekaterina Trofimova as CEO.[2]

Due to the withdrawal of US-based rating agencies because of legislative changes and sanctions against Russia,[3] ACRA is expected by analysts to become Russia's main ratings issuer.[4] ACRA does not issue ratings to companies outside of Russia.[2]

ACRA is deemed too demanding by a number of Russian companies, and is compared unfavorably to its competitor Expert RA, which is seen as putting its customers first.[5] In January 2017 VTB Bank refused to disclose the rating it received from ACRA, just noting that it was even lower than the 'politicized' rating assigned by western agencies.[6] By July 2017 the agency had issued over 40 ratings.[7]

ACRA assigns national scale credit ratings to financial institutions, corporate sector companies, regional and municipal authorities of the Russian Federation and their financial instruments. It will issue national scale ratings to pension funds, asset managers as well as to the structured financial instruments.

ACRA is engaged in research and forecasting and has developed ACRA Financial Stress Index (ACRA FSI), which is used to evaluate the possibility of financial crisis in Russia.

The agency was accused of benefiting from state favoritism by Expert RA, a local competitor.[8]

See also

References

  1. ↑ "Russia is so fed-up with Western credit rating agencies, it has launched its own". Telegraph.co.uk. Retrieved 5 July 2017.
  2. 1 2 "Russia Economy: Foreigners Flee As Russia Crafts Domestic Rating Agency Amid Sanctions". International Business Times. 22 June 2016. Retrieved 5 July 2017.
  3. ↑ "Moody's to withdraw from Russian domestic market". Financial Times. Retrieved 5 July 2017.
  4. ↑ "Fitch withdraws Russian national scale ratings". Reuters. 2016. Retrieved 5 July 2017.
  5. ↑ "Putin's Truthteller Turns Pariah as Banks Cringe at Ratings". Bloomberg.com. 6 April 2017. Retrieved 5 July 2017.
  6. ↑ "АКРА предупредило о рисках банка «ФК Открытие»". РБК. Retrieved 5 July 2017.
  7. ↑ "Russian ratings agency ACRA sees portfolio growing as foreigners leave". Reuters. 2017. Retrieved 5 July 2017.
  8. ↑ "Investors cautious as Russia enters new ratings era". Reuters. 2017. Retrieved 17 July 2017.
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