First ratings of Russian issuers’ shares announced
The Bank of Russia has summarised the results of a pilot project to assign non-credit ratings to ordinary Russian shares. These ratings will become an additional guide for retail and institutional investors when making long-term portfolio decisions.
The first ratings, in the form of stars (on a scale from one to five), were assigned to issuers from the Shareholder Value Creation Programme offered by two credit rating agencies – National Credit Ratings and National Rating Agency.
A non-credit share rating is an agency’s expert opinion on the fair value of companies, taking into account the quality of corporate governance, information disclosure, and the protection of shareholder rights, as well as the investment potential of corporate securities over a
In 2026, the Bank of Russia is going to start applying these ratings in its financial market regulation.