Moscow Exchange will stop calculating bond indices on an international scale
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Debt Market Indicators Committee recommended From 2023, the Moscow Exchange will stop calculating bond indices, in which credit ratings of international rating agencies Standard & Poor’s, Fitch Ratings and Moody`s Investors Service are used to assess credit quality.
The committee’s recommendations are based on an analysis of credit ratings assigned to Russian issuers, which have now been withdrawn and no longer relevant.
In addition, the Moscow Exchange recommends that all users of indices on the international scale by 2023 switch to the use of indices on the national scale.
The Committee on Debt Market Indicators of the Moscow Exchange includes representatives of the leading participants in the Russian debt market and acts as an expert council in terms of exchange bond indices.
After the start of the military operation in Ukraine, the rating agencies Moody’s, Fitch Group and S&P suspended commercial activities in Russia. Currently, the Central Bank has accredited four rating agencies – ACRA, Expert RA, NKR and NRA.
In October, the Finance Ministry began discussing changes to the rules for selecting banks that work with federal treasury funds. It is expected that in the future banks may be required to have ratings from three of the four agencies operating in the Russian market. At the same time, the minimum rating barrier will remain at the same level.
More details – in the publication “Kommersant” “More ratings, good and different”.
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