October 04, 2005 |
|The national credit rating agency, Credit-Rating, Ltd, has brought together a group of U.S. political and economic elder statesmen who have formed an International Advisory Board that will meet at least semi-annually to advise Credit-Rating in a number of priority areas of its development.|
This is believed to be the first time that a national credit rating agency has established such a distinguished advisory body.
Credit-Rating Ltd. announced today that it has established an International Advisory Board that is based in the United States. Ambassador John Bohn, former President of rating agency Moody’s Investors Service, was appointed the Chairman of the Board. Ambassador Bohn is Chairman of GlobalNet Financial Solutions, a U.S.-based financial advisory firm, and was formerly Chairman of the Board of the U.S. Export-Import Bank and U.S. Executive Director to the Asian Development Bank.
The Board is composed of high profile representatives of U.S. financial and business circles who have accomplishments in the international finance and investment communities relevant to the credit rating business. Other members include Paul Rodzianko, Senior Vice President of Access Industries, Inc., Ronald Scheman, Senior Advisor to Kissinger-McLarty Global Associates and former U.S. Executive Director for the Inter-American Development Bank, and Ambassador Keith Smith, a Senior Associate at the Center for Strategic and International Affairs. The first meeting of the Board took place in early September in New York, with further meetings to be held semi-annually.
The main purpose of the International Advisory Board is to provide advice to the management of Credit-Rating on strategy development, assuring the use of internationally accepted standards of operations, and increasing shareholder value.
“We consider this a very positive step in the development of Credit-Rating as Ukraine’s only agency providing credit ratings on the national scale. The combined experience of the board members is nothing less than a vast storehouse of knowledge that we in Credit-Rating may draw upon as we strive to provide superior rating services to a market that increasingly needs these services,” said Stanislav Dubko, the agency’s director.
Consultation with the International Advisory Board will broaden Credit-Rating’s ability to collaborate with representatives of the Ukrainian financial market and of international financial and advisory institutions accredited in Ukraine as they contribute to the development of a vibrant local capital market based on best international practices. One of the important elements of the market infrastructure is a local rating system that provides potential investors, foreign as well as domestic, with independent and public information about the performance and reliability of businesses, banks, and other financial institutions within the country. An effective and transparent local capital market promotes economic growth and transition toward integration of the local financial market into the global financial system.
|Full company name||Credit-Rating|
|Country of risk||Ukraine|