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Recognition of the independent Rating Agency KzRating |
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Tuesday, 28 July 2009 07:00 |
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On 28 July 2009 a meeting between the management of KzRating/Global Rating Group and the Kazakh stock exchange (KASE) will take place to discuss the prospects of KzRating’s recognition for the purposes of listing financial instruments.
The recognition process has been initiated by the Agency for Financial Regulation and Supervision of Banks in Kazakhstan (FMA) and the Kazakh stock exchange.
“Recognition of the national rating agency in Kazakhstan will benefit the banking community, clients, partners and potential investors”, says Richard Hainsworth, President of the Global Rating Group and Head of the Group’s rating agencies.
Goal:
- Increase transparency in the securities’ market;
- Stimulate the market’s development by a full analysis of the Kazakh issuers;
- Using ratings of the national rating agencies.
KzRating – is an independent rating agency, part of the GlobalRating Group, which also includes RusRating (Russia), AmRating (Armenia) and AzeriRating (Azerbaijan). The Agency assigns ratings to banks and leasing companies and conducts banking sector research.
Currently the agency has assigned ratings to 9 Kazakh banks which it monitors on a regular basis.
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