ACRA publishes draft methodology for assigning credit ratings to repackaging transactions

ACRA has published a draft of its methodology for assigning credit ratings to repackaging transactions. The document is available on ACRA’s website and is open to comments from market participants (https://www.acra-ratings.ru/criteria/2109).

The draft methodology describes ACRA’s approach to assigning credit ratings to the respective type of financial liabilities under the international scale and the national scale for the Russian Federation. ACRA defines repackaging transactions as a specific range of asset-backed securities that aim to replicate the credit quality of a single asset. The draft methodology covers the eligibility criteria for applying this Methodology to rated instruments, and also provides for various options for the transaction structure.

The draft methodology is open to discussion. ACRA encourages all interested parties to submit their comments and suggestions in writing to methodology_Repack@acra-ratings.ru by October 29, 2020 inclusively. ACRA will consider all suggestions before the final version is approved by the Methodology Committee.

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