Russian rating agency to be launched as Moscow reacts to downgrades

Moscow is launching  a Russian rating agency in a bid to counterbalance the negative effect of the persistent downgrades that the country and its leading companies has experienced at the hands of the big three Western agencies Standard & Poor’s, Moody’s and Fitch over the past 18 months. The government  has claimed that recent moves to cut Russia’s debt rating down to junk status were politically motivated, and its central CBR bank has called for the new  Analytical Credit Rating Agency (ACRA)  to be “resistant to geopolitical risks”.

Source: telegraph