Vladimir Putin’s analytical Credit Rating Agency: the importance of perception

The establishment of a wave of new regulatory measures against credit rating agencies operating in Russia, in conjunction with pressures emanating from International sanctions, has resulted in an exodus of the established rating agencies, like Moody’s and Fitch. In their place, the recently established ‘Analytical Credit Rating Agency’ is attempting to provide a different approach to the rating of Russian debt. However, the agency has been dogged by its apparent connection to the Kremlin, and in this article the focus will be upon the importance of perception in the rating arena and why, ultimately, The ACRA will be dismissed on the global stage as a mere instrument of the Russian Government