On credit ratings of consumer credit cooperatives and credit institutions
For the purpose of Bank of Russia Ordinance No.
The minimum international credit rating, assigned to the second-tier consumer credit cooperative by at least one of the rating agencies S&P Global Ratings, Fitch Ratings and Moody`s Investors Service, no lower than the sovereign rating of the Russian Federation decreased by five notches, but no lower than B in the classification of S&P Global Ratings and Fitch Ratings, and no lower than В3 in the classification of Moody`s Investors Service, or the national credit rating no lower than ruBBB+ in the classification of S&P Global Ratings, no lower than BBB(rus) in the classification of Fitch Ratings, no lower than А (I) in the classification of JSC Expert RA, no lower than BB+ (RU) in the classification of JSC ACRA, in case of lending to the second-tier consumer credit cooperative for the purpose of paragraph 4 of Sub-clause 1.12 of Clause 1 of the Ordinance;
The minimum international credit rating, assigned to the credit institution by at least one of the rating agencies S&P Global Ratings, Fitch Ratings and Moody`s Investors Service, no lower than the sovereign rating of the Russian Federation decreased by five notches, but no lower than B in the classification of S&P Global Ratings and Fitch Ratings, and no lower than В3 in the classification of Moody`s Investors Service, or the national credit rating no lower than ruBBB+ in the classification of S&P Global Ratings, no lower than BBB(rus) in the classification of Fitch Ratings, no lower than А (I) in the classification of JSC Expert RA, no lower than BB+ (RU) in the classification of JSC ACRA, in case of placing funds on the bank accounts with the credit institution for the purpose of Sub-clause 1.13 of Clause 1 and Sub-clause 2.11 of Clause 2 of the Ordinance.
For the purpose of this decision a rating notch means its gradation expressed through figures, letters and symbols (‘+’, ‘-’, ‘A’, ‘В’, ‘С’, 1, 2, 3, I, II, III).
Section V of Minutes No. 14 of the meeting of the Bank of Russia Board of Directors of 26 May 2016 shall be deemed invalid (information notice of 31 May 2016 published on the Bank of Russia website ‘On credit ratings of consumer credit cooperatives and credit institutions’).
This decision is to become effective since it is published on the Bank of Russia website.
The reference to the Press Service is mandatory if you intend to use this material.
25.01.2017 00.00.00