Expert RA

From Wikipedia, the free encyclopedia
Expert RA
TypeJoint-stock company
IndustryCredit Rating Agency
Founded1997
Headquarters
Moscow
,
Russia
Key people
Sergey Tishchenko - CEO
Sergey Tishchenko - Expert RA CEO

Expert RA is Russia’s oldest credit rating agency and also the largest one in terms of both customers and headcount. Expert RA has been assigning credit ratings for 20 years already. Expert RA is on the list of authorized rating institutions, meaning that its credit ratings are applicable for regulatory purposes to banks, insurers, pension funds, and debt issuers.

History[]

1995 - First ratings assigned on the Expert magazine platform

1997 - A rating agency (Expert RA) established

1998 - Expert RA creates its Analytics & Communications Business line[1]

2001 - Expert RA’s ratings integrated in the business environment. Accreditation by exchanges and professional associations.

2010 - Expert RA accredited by Russia’s Ministry of Finance[2]

2014 - Expert RA set up International Group RAEX holding in order to develop its business abroad.[3][4][5]

2016 - Central Bank of Russia has included Expert RA in the list of accredited credit agencies[6]

2017 - Change of the rating scale, 19 gradations introduce in the rating system[7]

2018 - Expert RA signs a strategic partnership memorandum with China Chengxin Credit Rating Group (CCXI).[8]

2019 - Establishing Expert Business-Solutions, a company intended to support non-rating analytical products.[9][10]

2020 - International Capital Markets Association (ICMA) has included Expert RA in the list of independent verifiers of green and social bonds.[11]

Main activities[]

Credit Ratings[]

Currently, Expert RA has more than 600 credit ratings outstanding,[12] including 441 issuer  and 235 issue credit ratings (as of October 1, 2019). 

The agency assigns credit ratings to regions and municipalities.[13]

Communications & Analytics[]

Expert RA addresses key national issues in cooperation with government agencies, public associations, and regional authorities.

Surveys[]

Expert RA publishes over 50 research papers and analytical reports on insurance, banking, asset management, leasing, factoring, auditing, consulting and other industries annually[14] and Rankings [15]

Business Events[]

Every year, Expert RA holds events such as forums, conferences, and round tables to discuss research and work out solutions and scenarios for business community and public authorities.

Rating Scale[]

Expert RA National Rating Scale for the Russian Federation Effective from 10 April 2017[7]

Category Level Definition
AAA ruAAA The rating object is characterised by the maximum level of creditworthiness/financial reliability/financial strength. The highest level of creditworthiness/financial reliability/financial strength according to the national scale for the Russian Federation, in the Agency’s opinion.
AA ruAA+ High level of creditworthiness/financial reliability/financial strength compared to other objects of the rating in the Russian Federation, being only slightly lower than the level of the rating objects in the ruAAA rating category.
ruAA
ruAA-
A ruA+ Moderately high level of creditworthiness/financial reliability/financial strength compared to other objects of the rating in the Russian Federation; however, some sensitivity to adverse changes of economic situation is observed.
ruA
ruA-
BBB ruBBB+ Moderate level of creditworthiness/financial reliability/financial strength compared to other objects of the rating in the Russian Federation, while the observed sensitivity to adverse changes of economic situation is higher than that of the rating objects in the ruA rating category.
ruBBB
ruBBB-
BB ruBB+ Moderately low level of creditworthiness/financial reliability/financial strength compared to other objects of the rating in the Russian Federation. High sensitivity to adverse changes of economic situation is observed.
ruBB
ruBB-
B ruB+ Low level of creditworthiness/financial reliability/financial strength compared to other objects of the rating in the Russian Federation. The ability to fulfil financial obligations in full and in a timely manner is currently maintained, while the safety margin is limited. The ability to fulfil obligations is sensitive to an economic downturn.
ruB
ruB-
CCC ruCCC Very low level of creditworthiness/financial reliability/financial strength compared to other objects of the rating in the Russian Federation. It is considerably likely that the rating object fails to fulfil its financial obligations in the short term.
CC ruCC Very low level of creditworthiness/financial reliability/financial strength compared to other objects of the rating in the Russian Federation. It is increasingly likely that the rating object fails to fulfil its financial obligations in the short term.
C ruC Very low level of creditworthiness/financial reliability/financial strength compared to other objects of the rating in the Russian Federation. It is very likely that the rating object fails to fulfil its financial obligations in the short term. It is highly unlikely that financial obligations will be fulfilled in a timely manner.
RD ruRD The rating object is under supervision of the governmental regulatory agencies which can determine priority of the obligations. However, the Agency has not recorded a default yet.
D ruD The rating object is in default.

Rating methodologies[]

Expert RA has 18 currently active credit rating methodologies, of which 12 are recognized by the regulator [16]as fully complying with Law 222-FZ and suitable for regulatory purposes.

Recognized for regulatory purposes

  • Bank Credit Rating Methodology[17]
  • Credit Rating Methodology for Debt Instruments[18]
  • Credit Rating Methodology for Local & Regional Governments[19]
  • Credit Rating Methodology for Non-Financial Companies[20]
  • Insurer Financial Strength Rating Methodology[21]
  • Holding Companies Credit Rating Methodology[22]
  • Credit Rating Methodology for Project Finance Companies[23]
  • Credit Rating Methodology for Leasing Companies[24]
  • Credit Rating Methodology for Microfinance Companies[25]
  • Life Insurer Financial Strength Rating Methodology [26]
  • Credit Rating Methodology for Financial Companies[27]
  • Financial Strength Rating Methodology for Regional Guarantee Organizations [28]

Under review

  • Depository Credit Rating Methodology
  • Financial Strength Rating Methodology for Non-State Pension Funds
  • Credit Rating Methodology for Structured Finance Products (4 methodologies)

See also[]

References[]

  1. ^ "Исследования". raexpert.ru. Retrieved 2018-12-19.
  2. ^ ."«Эксперт РА», присвоившее более 300 публичных контактных рейтингов, вошло в список аккредитованных при Минфине рейтинговых агентств". raexpert.ru. Retrieved 2018-12-19.
  3. ^ "На базе «Эксперта РА» будет создан международный холдинг RAEX". asn-news.ru. Retrieved 2014-06-27.
  4. ^ "«Эксперт РА» создает международный холдинг RAEX". arb.ru. Retrieved 2014-06-27.
  5. ^ "«Эксперт РА» RAEX — воплощение международных амбиций рейтингового агентства". sluchay.ru. Retrieved 2014-06-29.
  6. ^ "Кредитные рейтинговые агентства | Банк России". www.cbr.ru. Retrieved 2018-12-19.
  7. ^ a b "Шкала". raexpert.ru. Retrieved 2018-12-19.
  8. ^ "«Эксперт РА» и China Chengxin International Credit Rating объявили о начале партнерства". raexpert.ru. Retrieved 2018-12-19.
  9. ^ "«Эксперт РА» сообщает о начале операционно�� деятельности компании «Эксперт Бизнес-Решения»".
  10. ^ "Expert Business-Solutions official site".
  11. ^ ICMA // The external reviewers listed below have contributed to, and confirmed that they will voluntarily align with the Guidelines consistent with any regulatory obligations
  12. ^ "Рейтинги". raexpert.ru. Retrieved 2018-12-19.
  13. ^ "Рейтинги кредитоспособности региона (муниципалитета)". raexpert.ru. Retrieved 2018-12-19.
  14. ^ "Исследования". raexpert.ru. Retrieved 2018-12-19.
  15. ^ "Expert RA Rankings". raexpert.ru. Retrieved 2018-12-19.
  16. ^ "Методология «Эксперт РА» по присвоению рейтингов кредитоспособности финансовым компаниям получила одобрение Банка России". raexpert.ru. Retrieved 2018-12-19.
  17. ^ "Bank of Russia" (PDF).
  18. ^ "Bank of Russia" (PDF).
  19. ^ "Bank of Russia" (PDF).
  20. ^ "Bank of Russia" (PDF).
  21. ^ "Bank of Russia" (PDF).
  22. ^ "Bank of Russia" (PDF).
  23. ^ "Bank of Russia" (PDF).
  24. ^ "Bank of Russia" (PDF).
  25. ^ "Bank of Russia" (PDF).
  26. ^ "Bank of Russia" (PDF).
  27. ^ "Bank of Russia" (PDF).
  28. ^ "Bank of Russia" (PDF).{{cite web}}: CS1 maint: url-status (link)
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