Rating agency RFCA becomes a member of ACRAA

09.06.10 18:00
/KASE, June 9, 10/ - Rating agency RFCA provided Kazakhstan Stock Exchange (KASE) with a press release: Quotation begins Rating agency RFCA became the first Kazakhstan-based member of the Association of Credit Rating Agencies in Asia (ACRAA). ACRAA was established September 14, 2001 in the headquarters of the Asian Development Bank, by Asian ratings agencies based in 13 countries for the following purposes: - Development and cooperation of Asian credit rating agencies; - Exchange of expertise, ideas and information between Asian credit rating agencies; - Increase of agencies' role in supply of reliable information; - Facilitation of implementation of best world practices and general standards, providing high quality and comparability of credit ratings based on ethical norms and professional behavior; - Development of Asian bond markets and international investment in Asia. Currently ACRAA is a leading international organization uniting rating agencies of Japan, South Korea, China, India and etc. The Association pursues to develop and maintain close relations between Asian rating agencies, exchange ideas, data and expertise for purposes of development of rating agencies and enforcement of their capacities to provide reliable market date. The membership is opening new possibilities for development of credit ratings practices in Kazakhstan, improvement of the legal base, introduction of the best international practices. The development of credit ratings will enforce transparency and responsibility of financial market players, thus making them more attractive for investors. Contact: Gulmira Arbabaeva, +7(727) 244-94-95 Cell.: 8701 (705)7717211 Ends [2010-06-09]