DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of January 12, 2016 No. 17

About approval of Rules of determination by authorized rating agency of rating assessment on the National rating scale

According to Item 34 parts two of article 7 of the Law of Ukraine "About state regulation of the security market in Ukraine" and to the resolution of the Cabinet of Ministers of Ukraine of April 26, 2007 No. 665 "About approval of the National rating scale" the National commission on securities and the stock market RESHILA:

1. Declare invalid the decision of State commission on securities and the stock market of May 21, 2007 No. 1042 "About approval of Rules of determination by authorized rating agency of rating assessment on the National rating scale", registered in the Ministry of Justice of Ukraine on June 11, 2007 for No. 607/13874.

2. Approve Rules of determination by authorized rating agency of rating assessment on the National rating scale which are attached.

3. Bring in the Procedure for provision of information by authorized rating agencies approved by the decision of the National commission on securities and the stock market of December 11, 2012 No. 1767, registered in the Ministry of Justice of Ukraine on January 2, 2013 at No. 25/22557, the following changes:

1) in Item 2:

in paragraph one to replace the word of "seven" with the word of "ten", and words", but no later than the day following behind day of decision making about assignment of rating assessment by results of appeal consideration in case of giving by the subject of rating of the corresponding statement in authorized rating agency" to exclude;

to add paragraph two after the words "about the security market" with the words "also place on the page on the Internet";

The word "renewal" to replace 2) in the text of the Procedure and appendices to it with the word "updating".

4. Registered in the Ministry of Justice of Ukraine on July 12, 2006 on No. 823/12697, after the subitem "g"" to add Item 5.1 of Chapter 5 of the Procedure for maintaining the State register of authorized rating agencies and issue of Certificates on inclusion in the State register of authorized rating agencies approved by the decision of State commission on securities and the stock market of June 23, 2006 No. 444, with three new subitems of the following content:

"e) assignment of rating assessment of the investment grade by authorized rating agency to the subject of rating after adoption by the Commission on it of the decision on inclusion of the issuer in the list of the issuers having fictitiousness signs, or preserving to the subject of rating of rating assessment of the investment grade within more than 4 working days from acceptance date by the Commission on it of the decision on inclusion of the issuer in the list of the issuers having fictitiousness signs;

e) assignment of rating assessment of the investment grade by authorized rating agency to the subject of rating after adoption on it of the decision on recognition by the bankrupt in the procedure established by the legislation or preserving to the subject of rating of rating assessment of the investment grade within more than 30 days from acceptance date on it of the decision on recognition by the bankrupt in the procedure established by the legislation;

є) preserving by authorized rating agency within more than 30 days of rating assessment of the investment grade of the subject of rating which does not fulfill the obligation on bonds;".

With respect thereto to consider the subitem "d" the subitem "zh".

5. And corporate finances to provide to corporate management department submission of this decision on state registration in the Ministry of Justice of Ukraine.

6. This decision becomes effective from the date of its official publication.

7. And clerical works to provide to department of information technologies promulgation of this decision on the official site of the National commission on securities and the stock market.

8. To provide to management of international cooperation and communications publication of this decision in the official printing publication of the National commission on securities and the stock market.

9. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market A. Panchenko.

Approved by the Decision of the National commission on securities and the stock market of Ukraine of January 12, 2016 No. 17

Rules of determination by authorized rating agency of rating assessment on the National rating scale

1. These rules establish requirements according to which the authorized rating agency shall determine rating assessment by the National rating scale (further - the National scale).

2. In these rules the stated below terms are used in the following values:

rating methodology - set of the documents determining criteria of determination of rating assessment by authorized rating agency by the National scale including is determined by procedure for carrying out the analysis of the issuer and his securities regarding compliance to fictitiousness signs;

the rating procedure - the document which determines the sequence of actions for assignment, updates, suspension and withdrawal of rating assessment by the National scale.

3. Action of these rules extends to the subjects of managing performing activities in the territory of Ukraine by determination of rating assessment which determination is obligatory under the law and have the status of authorized rating agencies.

4. The authorized rating agency shall:

1) to perform activities according to these rules, rating methodology and the rating procedure;

2) to carry out independent rating assessment on the National scale;

3) to perform updating of the appropriated rating estimates;

4) to perform activities for determination of rating assessment and its updating based on the contract between authorized rating agency and subject of rating (further - the agreement).

Changes can be made to the agreement only with the consent of both agreement parties.

If subject to rating are debt issued securities, the duration of the agreement shall correspond to the term of existence of such borrowing (term before end date of repayment of such issue of securities);

To record 5) the signed agreements and to store them in the agency at least five years after accomplishment of cross liabilities;

To represent 6) to the National commission on securities and the stock market (further - the Commission) in amounts, forms and in the terms determined by the regulatory legal act of the Commission which establishes procedure for submission of information by authorized rating agencies;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info