Expert RA: A Leader in Credit Rating and Advisory Services

Expert RA has been a leading provider of credit rating and advisory services for over 20 years, with a proven track record of delivering high-quality solutions to clients across various industries.

Their expertise in credit rating is unmatched, with a team of experienced analysts who have a deep understanding of the complex factors that influence creditworthiness.

Expert RA's advisory services are designed to help clients navigate the complexities of credit markets and make informed decisions about their financial strategies.

By leveraging their extensive knowledge and expertise, clients can gain a competitive edge in the market and achieve their financial goals.

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Expert RA was founded in 1997, marking the beginning of its journey as a rating agency.

The agency quickly expanded its services, creating its Analytics & Communications Business line in 1998. This move helped Expert RA establish itself as a credible player in the market.

In 2010, Expert RA achieved a significant milestone by getting accredited by Russia's Ministry of Finance. This accreditation recognized the agency's commitment to transparency and quality.

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The agency continued to grow, and in 2016, the Central Bank of Russia included Expert RA in the list of accredited credit agencies. This recognition further solidified Expert RA's position in the market.

Here's a brief timeline of Expert RA's major milestones:

Expert RA's commitment to quality and transparency was further recognized in 2020, when the International Capital Market Association included the agency in the list of independent verifiers of green and social bonds.

Expert RA has received Bank of Russia accreditation, which means they meet the requirements of the Central Bank of the Russian Federation.

The agency was included in the register of accredited rating agencies, demonstrating their full compliance with the regulations.

To achieve accreditation, Expert RA formed share capital, created new corporate governance bodies that eliminate conflicts of interest.

This step was crucial in improving the quality and transparency of their rating ratings.

Expert RA brought their rating methodologies and procedures in line with the requirements of the Central Bank of the Russian Federation.

By doing so, they were able to meet the standards set by the Bank of Russia.

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Expert RA has a unique organisational structure that includes analytical, technology, and operations units, as well as independent units like the Methodology Department and the Validation Department.

The Macroeconomic Analysis and Forecasting Department is one of the key analytical units, responsible for providing crucial insights for rating activities. The Digital Transformation Service represents the technology organisational units, driving digital transformation within the Agency.

The Rating Service is a crucial part of Expert RA, consisting of six departments that handle various types of ratings, including Credit Institution Ratings, Corporate Ratings, and Sovereign & Regional Government Ratings.

The Agency's equity holding structure is designed to prevent external influence on assigned ratings and maintain independence. This is achieved through a firewall between analytical and commercial services, as well as strict adherence to regulatory requirements.

Here's a breakdown of the ownership structure after the additional issue in 2016:

This new structure ensures that the Agency remains free from potential conflicts of interest and can maintain its independence in carrying out rating actions.

Expert RA has a well-defined organisational structure that ensures its rating activities align with federal legislation and international regulatory best practices.

The agency is divided into analytical, technology, and operations units, as well as independent units like the Methodology Department and Validation Department.

The Digital Transformation Service represents the technology organisational units, which are integral to Expert RA's operations.

Here are the main departments under the Rating Service:

Expert RA also collaborates with government agencies, public associations, and regional authorities to address key national issues.

In 2019, Expert RA supported over 600 credit ratings, solidifying its position as a leading credit rating agency.

As of 2019, the agency maintained more than 600 credit ratings.

Expert RA firmly holds leading positions in the ratings of credit institutions, insurance companies, companies in the financial and non-financial sector.

The agency's expertise and experience in credit rating services have earned it a reputation as a trusted and reliable partner in the industry.

At the time, Expert RA's credit ratings were highly regarded, with the agency maintaining a strong market presence.

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Expert RA collaborates with government agencies to address key national issues. This partnership is crucial for making a meaningful impact on the country's most pressing problems.

Expert RA works closely with public associations to tackle national issues. These associations bring valuable expertise and perspectives to the table, enriching the discussion and driving progress.

Regional authorities are also key partners in Expert RA's efforts. By working together, they can leverage their collective resources and knowledge to achieve common goals.

Expert RA's ability to address key national issues is made possible by its strong relationships with government agencies, public associations, and regional authorities.

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Expert RA is the market leader in credit rating services, accounting for over 50% of ratings assigned in the Russian credit rating market. This dominance is evident in the data, where at year-end 2022, they covered most of the 757 entities rated, and by year-end 2023, they had 484 customers out of 790 rated entities.

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Their expertise extends to ESG leadership, with Expert RA being among the signatories to the Principles of Responsible Investment (PRI) and adhering to various international and national standards for sustainable development.

Here's a breakdown of their ESG ratings and bond issuances in 2022 and 2023:

In 2017, Expert RA's Board of Directors underwent a significant change. Igor Yurgens, President of the All-Russian Union of Insurers (ARIA), was elected Chairman of the Board of Directors.

The new composition of the Board of Directors included 8 members. Sergey Yuryevich Belyakov, Arkady Anatolyevich Krasnikhin, Oleg Aleksandrovich Khodenkov, Igor Yuryevich Yurgens, Dmitry Eduardovich Grishankov, Igor Valentinovich Makarov, Oleg Irikovich Mukhamedshin, Alexander Dmitrievich Tarabrin, and Sergey Ivanovich Tishchenko were elected to the Board of Directors.

The Board of Directors was expanded with 4 new independent directors, who joined the existing members. This change aimed to bring new perspectives and expertise to the credit rating agency.

We're proud to be among the signatories to the Principles of Responsible Investment (PRI), a global network of investors who share our commitment to responsible investment.

Our commitment to ESG leadership is evident in our adherence to various international standards and principles, including the UN Sustainable Development Standards and ICMA’s Sustainability-Linked Bond Principles.

We've also endorsed the Russian Federation Government’s Decree No. 1587, which sets out criteria for sustainable development projects in the Russian Federation.

Our ESG ratings have seen significant growth, with 12 ESG ratings in 2022 and 19 in 2023, making us a leader in this area.

Here's a breakdown of our ESG ratings over the past two years:

As a result of our commitment to ESG leadership, Expert RA is on top of the impact ranking of rating agencies produced by the INFRAGREEN analytical platform, and we've been an absolute leader by the number of verifications, solicited ESG ratings, published ESG ratings, sustainability-themed analytical products, and organised issue-related events in both 2022 and 2023.