Share rating pilot initiative launched
The Bank of Russia has approved the methodologies of two credit rating agencies (CRAs) for assigning non-credit ratings to ordinary shares. This is a new product in the market, which involves assessment of a company's fair value. It will become an additional guide for investors making investment decisions.
National Credit Ratings and National Rating Agency take part in the pilot initiative. When assessing issuers, the CRAs will analyse companies’ compliance with corporate legislation, including the provisions protecting investors’ rights, and subsequently assign ‘stars’ to the shares, substantiating the ratings with detailed analytical data.
Companies from the Shareholder Value Creation Programme will become the first issuers to be rated.
As of the end of 2025, the Bank of Russia will analyse the experience gained and, if it proves to be positive, will consider the application of share ratings in financial regulation.