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‘Big Three’ rating agencies file documents for registration of Russian branches

International rating agencies in the status of branches will not be able to assign national scale ratings

© EPA/ANDREW GOMBERT

MOSCOW, January 13. /TASS/. The ‘Big Three’ international rating agencies [Fitch, Moody’s and S&P - TASS] sent documents to the Bank of Russia for registration of branches, First Deputy Chairman of the Central Bank Sergei Shvetsov said at Gaidar Forum on Friday.

"I think, yes. We are in talks with them for a long time and we are aware they are going to remain in Russia in branch format," Shvetsov said responding to the relevant question.

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Big Three rating agencies ready to work in Russia within current legislation — ministry

International rating agencies in the status of branches will not be able to assign national scale ratings, the official said.

"If the ‘Big Three’ does not open subsidiaries in Russia and these entities do not undergo the accreditation procedure, then the rating assignment activity in the territory of Russia will be unlawful," Shvetsov said.

All the ‘Big Three’ rating agencies consider opening of subsidiaries in Russia, Shvetsov said at the turn of the last year.

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