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Rating-Agentur Expert RA GmbH

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Rating-Agentur Expert RA GmbH
IndustryFinancial services
Founded2013
Headquarters
Frankfurt am Main
,
Germany
Key people
Svetlana Grishankova (Managing Director)
Websitehttps://raexpert.eu/

Rating-Agentur Expert RA GmbH (RAEX Europe) is a credit rating agency established in Frankfurt am Main, Germany.[1] The agency is a business unit of International group RAEX operating in the European Union since 2013.[2] It is the first rating agency with Russian roots,[3] officially recognized by European Union Supervisory Authority.[4]

European Regulation

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The European Securities and Markets Authority (ESMA) the EU's direct supervisor of credit rating agencies (CRAs), has registered Rating-Agentur Expert RA GmbH[5] as a CRA under Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies with effect from 1 December 2015.[6] The Agency received an official status of the External Credit Assessment Institution (ECAI),[7] and the credit ratings issued by the agency can be used for regulatory purposes[8] on financial markets of the European Union.[9]

Activities

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Rating-Agentur Expert RA GmbH assigns credit ratings to financial institutions, insurance undertakings, non-financial companies and public finance, as well as sovereign ratings for countries and regions.[10]

The first public non-sovereign rating was assigned by the agency to a Russian bank JSC CB "Assotsiatsiya".[11] In the beginning of 2017 Rating-Agentur Expert RA GmbH has issued credit ratings to Russian regions - Krasnodar region and Chuvash republic.[12] In May 2017 the agency has assigned rating of creditworthiness to Latvian insurance company Balcia Insurance SE.[13]

Sovereign ratings

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On a half-year basis Rating-Agentur Expert RA GmbH conducts scheduled reviews of unsolicited sovereign ratings[14] and prepares reports on economic situation of countries. RAEX Europe issues sovereign government rating, reflecting the Agency's opinion on the government's ability to meet current and future financial obligations, and country credit environment rating, which is a measure of the systemic credit risks of the country in comparison with other countries of the world.[15] Among these countries are Russia, Kazakhstan,[16] Kyrgyzstan,[17] Armenia, Belarus,[18] Germany, Uzbekistan, Cyprus, China and USA.

ESG ratings

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Rating-Agentur Expert RA GmbH is a signatory of the ESG in Credit Rating Statement maintained by the UNPRI.[19]

An ESG rating represents the opinion of the Agency on the environmental, social and governance strengths and weaknesses of a rated entity. On the 5th of October 2017 RAEX Europe assigned the first ESG rating to Chuvash Region.[20]

Green Bond Second Opinion

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RAEX-Europe provides services of the issuance of Green Bond Second Opinion. The Green Bond Second Opinion is an independent opinion defining how the framework of the issued green bonds complies with the Green Bond Principles[21] and defining the issuer’s environmental performance related to the eligible projects. On 19 December 2018 the Agency issued a Second Opinion for the first Green Bonds issued in Russia[22] by “RSB HMAO” Ltd. (a subsidiary of “Waste Management” JSC).[23] RAEX-Europe is added to the External Review Service Mapping[24] maintained by ICMA and "RSB HMAO Ltd." bond is included to ICMA database[25] and to the international register of green bonds - the Environmental Finance Bond Database (EFBD).[26]

Memorandum of understanding

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On 17 December 2018 in Beijing a cooperation memorandum[27] was signed by four credit rating agencies: largest Chinese rating agency China Chengxin International Credit Rating Co., Ltd.(CCXI),[28] Rating-Agentur Expert RA GmbH (RAEX-Europe), Pakistan rating agency JCR-VIS Credit Rating Co. Ltd.[29] and the Bahraini Islamic International Rating Agency (IIRA).[30] The main purpose of this alliance is to provide informational support for investors to the Belt & Road countries and projects. The agencies prepared the annual joint report “Country Risk Report Along the Belt and Road 2018”.[31]

References

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  1. ^ A; Allen, L. Goodbody-Kevin; Burke, Adrian; Grennan, James; Kelly, Joe; McDermott, Brian; White, Paul (4 January 2016). "ESMA registers Rating-Agentur Expert RA GmbH as a credit rating agency - Lexology". Archived from the original on 2018-04-25. Retrieved 2017-06-23.
  2. ^ "Rating-Agentur Expert RA GmbH: Private Company Information - Bloomberg". Bloomberg.com. Archived from the original on 2018-04-25. Retrieved 2017-06-22.
  3. ^ "Рейтинговое Агентство RAEX-Europe повысило рейтинг Беларуси". Belta.by. 31 January 2018. Archived from the original on 6 February 2018. Retrieved 19 February 2018.
  4. ^ "Cbonds Group and Rating-Agentur Expert RA have announced the start of informational cooperation and publication of credit ratings". Cbonds.com. Archived from the original on 24 April 2018. Retrieved 24 April 2018.
  5. ^ "Russland: DRW-Clubabend mit Rating-Agentur Expert RA GmbH - owc.de". Owc.de. Archived from the original on 2018-04-25. Retrieved 2018-02-19.
  6. ^ "ESMA registers Rating-Agentur Expert RA GmbH as a credit rating agency". Esma.europa.eu. Archived from the original on 2017-09-21. Retrieved 2017-06-22.
  7. ^ "RAEX-Europe upgrades Belarus' credit ratings - Strategeast". Strategeast.org. 31 January 2018. Archived from the original on 24 April 2018. Retrieved 19 February 2018.
  8. ^ "Агентство RAEX Europe официально зарегистрировано регуляторами ЕС - Банки.ру". Banki.ru. Archived from the original on 2018-04-24. Retrieved 2018-02-19.
  9. ^ "Немецкое представительство "Эксперт РА" получило аккредитацию у регулятора ЕС". Vedomosti.ru. 1 December 2015. Archived from the original on 24 April 2018. Retrieved 23 June 2017.
  10. ^ "ESMA Registers Rating-Agentur Expert RA GmbH As A Credit Rating Agency". Mondovisione.com. Archived from the original on 2018-04-24. Retrieved 2017-08-14.
  11. ^ "Банк "Ассоциация" получил международный рейтинг Expert RA". Kommersant.ru. 27 April 2016. Archived from the original on 25 April 2018. Retrieved 23 June 2017.
  12. ^ "Министерство финансов Чувашской Республики » Пресс-Центр » Актуально". Archived from the original on 2017-09-12. Retrieved 2018-04-24.
  13. ^ технологии», «Современные страховые. "RAEX (Эксперт РА) отозвал без подтверждения рейтинг страховой компании "Balcia Insurance" SE". Журнал о страховании «Современные страховые технологии». Archived from the original on 2021-10-23. Retrieved 2017-06-23.
  14. ^ "Tracker, Financial Services Regulation & Compliance - Investment Firms - Jan - 2016 - A&L Goodbody". Algoodbody.com. Archived from the original on 2018-04-24. Retrieved 2018-02-19.
  15. ^ "RAEX подтвердило суверенный рейтинг Беларуси и повысило рейтинг кредитоспособности". Thinktanks.by. Archived from the original on 2018-04-25. Retrieved 2018-02-19.
  16. ^ Forbes.kz (3 February 2018). "Риски банковской системы сохраняются, на рынке кредитования – стагнация". Forbes.kz. Archived from the original on 24 April 2018. Retrieved 24 April 2018.
  17. ^ "RAEX агенттиги Кыргызстандын кредиттик рейтингин төмөн баалады". Азаттык Υналгысы. 22 January 2018. Archived from the original on 2018-04-24. Retrieved 2018-02-19.
  18. ^ "Рейтинговое Агентство RAEX-Europe повысило рейтинг Беларуси". Myfin.by. Archived from the original on 2018-04-25. Retrieved 2018-02-19.
  19. ^ "PRI - Credit ratings". Unpri.org. Archived from the original on 2021-10-23. Retrieved 2018-02-19.
  20. ^ "Делегация Чувашии презентовала экспортный и инвестиционный потенциал деловым кругам Германии". Cheboksary.ru. Archived from the original on 2018-04-24. Retrieved 2018-02-19.
  21. ^ "Green Bond Principles". www.icmagroup.org. Archived from the original on 2021-10-09. Retrieved 2021-10-23.
  22. ^ "Правительство утвердило правила субсидирования "зеленых облигаций"". Российская газета. 12 May 2019. Archived from the original on 2019-05-28. Retrieved 2021-10-23.
  23. ^ "Green cash for Siberian trash: Russia's first green bond | bne IntelliNews". www.intellinews.com. January 18, 2019. Archived from the original on October 27, 2020. Retrieved October 23, 2021.
  24. ^ "External Reviews". www.icmagroup.org. Archived from the original on 2021-06-14. Retrieved 2021-10-23.
  25. ^ "Sustainable bonds database". www.icmagroup.org. Archived from the original on 2021-10-13. Retrieved 2021-10-23.
  26. ^ "Home - Environmental Finance Bond Database". www.bonddata.org. Archived from the original on 2021-10-09. Retrieved 2021-10-23.
  27. ^ "ESG-Kredit-Rating: China macht vor, wie es geht". www.fundresearch.de. Archived from the original on 2021-01-21. Retrieved 2021-10-23.
  28. ^ "中国诚信信用管理股份有限公司". Archived from the original on 2021-10-09. Retrieved 2021-10-23.
  29. ^ "JCRVIS - My Fact-Based Blog". JCRVIS. Archived from the original on 2021-01-24. Retrieved 2021-10-23.
  30. ^ "The web site is under construction". Archived from the original on 2021-01-23. Retrieved 2021-10-23.
  31. ^ "China Chengxin International Credit Rating Co., Ltd". Archived from the original on 2019-06-18. Retrieved 2021-10-23.
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