Kazakh companies to be assessed by national ratings

allmaty-2aa

ALMATY (TCA) — The Atameken National Chamber of Entrepreneurs of Kazakhstan and the Rating Agency of the Regional Financial Centre of Almaty have signed a cooperation agreement aimed at the development of a rating system, as well as the development and popularization of the rating institution in the professional and expert community (improvement of the legislation in terms of credit and debt ratings of national rating agencies), Atameken reported on June 29.

Atameken and the Rating Agency of RFCA will improve the rating methodology and introduce the national rankings as a tool for evaluation of the investment attractiveness of Kazakh companies.

To implement this task, the parties plan to carry out analytical studies, the publication of information materials, organization of joint seminars, conferences, and round tables devoted to the improvement and use of the rating system. It is planned to prepare a rating of companies working in the financial and production sectors of the economy, with regard to their solvency, corporate governance, and financial stability.

Formation and widespread use of ratings contributes to the development of the stock market and the real sector by ensuring transparency and providing objective information to potential investors. In addition, the use of ratings stimulates increased openness of industries and individual companies, formation of a favorable investment climate, creation of incentives for improvement of the competitiveness of domestic companies, and, in general, is a necessary attribute of market discipline.

Sergey Kwan

TCA