Baku. 15 December. REPORT.AZ/ Taking into account international best practices Financial Markets Control Chamber will assess possibility of establishing a national rating agencies. The action plan will be prepared and will be executed with the decision.
Report informs citing the "Strategic road map for national economy and main economic sectors".
"One of the instruments used for more advanced credit risk management is credit rating given to companies. Issuers of securities, individual and institutional investors in determining investment strategy, as well as relevant regulatory and supervisory structures benefit from credit ratings. Thus, the assessment of the credit risk on the basis of individual rankings allows more accurate determination of capital and provisioning requirements. This creates conditions for financial stability of individual financial institutions, create basis for more effective use of resources. Due to the absence of this type of services in Azerbaijan, companies take advantage of international rating agencies. As a result, a small number of companies have access to these services," the document says.
The assessment of creating national rating agencies will be carried out in 2018-2019.