Russia's VTB bank wants to obtain Chinese agency Dagong rating — CEO

VTB plans to obtain a rating from the Chinese Dagong Global Credit Rating agency, VTB President Andrey Kostin told journalists at the Boao Forum for Asia.

VTB plans to obtain a rating from the Chinese Dagong Global Credit Rating agency, VTB President Andrey Kostin told journalists at the Boao Forum for Asia.

"Yes, the Bank has requested the Dagong agency rating. We are heading in that direction. It is the right decision given the current situation," he said.

Kostin said that obtaining the rating of the Chinese agency is one of the requirements for companies that plan to enter the country’s stock exchanges.

Speaking about the prospects of establishing a Russian rating agency, Kostin said that he considered this measure necessary. "I believe that there should be a national rating agency. It’s very simple - there is a huge part of our industry that is unrated due to the fact that it consists of Russian Defense industry enterprises," VTB President said.

Therefore, according to him, there is a need for a Russian ratings agency, which would deal with the ratings of such companies - "there are a lot of borrowers that belong in this class.".

First published by TASS.

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