Today, July 3, the National Securities and Stock Market Commission adopted its first-ever decision to authorize a rating agency under the new procedure; Credit Intelligence LLC (RA Credit Intelligence) was granted the status of an authorized rating agency (ARA).<\/p>\n
This marks the first real-world test of the mechanism that came into effect on January 1, 2026, alongside the Law on Rating Activities\u2014a document developed by the NSSMC itself based on European Union Regulation No. 1060\/2009 on credit rating agencies.<\/p>\n
“We deliberately drafted this law not so it would simply sit on a shelf looking good, but so it would actually work\u2014and today that has happened. The first authorization under the new procedure proves that the rules we spent a whole year building truly work in practice, not just on paper,”<\/em> noted Oleksii Semeniuk, Chairman of the NSSMC.<\/p>\n Changes for the market<\/strong><\/p>\n Before the law came into effect, rating agencies in Ukraine operated under simplified rules\u2014without requirements regarding the independence of management decisions, the disclosure of methodologies, or systematic controls for conflicts of interest. Now, any agency wishing to issue public credit ratings in Ukraine must obtain authorization and meet standards identical to those in the European Union: an independent supervisory board, compliance controls, transparent methodologies, and clear procedures for analyst rotation.<\/p>\n The NSSMC received the application from Credit Intelligence back in mid-January\u2014almost immediately after the launch of the new system. The review process took the statutory 45 business days.<\/p>\n The law also allows for flexibility: companies with fewer than 10 employees can undergo a simplified authorization process with exemptions regarding certain organizational requirements. This is precisely the regime applied to Credit Intelligence.<\/p>\n European Recognition<\/strong><\/p>\n In April 2026, the NSSMC consulted with the European Securities and Markets Authority (ESMA), which confirmed that the Ukrainian authorization procedure complies with European regulatory standards. This paves the way for the accelerated integration of the Ukrainian credit rating market into the European Union market.<\/p>\n Background<\/strong><\/p>\n The Law on Credit Rating Agencies (No. 3981-IX) was adopted by the Verkhovna Rada on September 19, 2024, and entered into force on January 1, 2026. The Law establishes the legal framework for the operations of rating agencies in Ukraine in accordance with European Union legislative requirements and provides for the maintenance of a Register of Authorized Rating Agencies by the NSSMC. Today, July 3, the National Securities and Stock Market Commission adopted its first-ever decision to authorize a rating agency under the new procedure; Credit Intelligence LLC (RA Credit Intelligence) was…<\/p>\n","protected":false},"author":342,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4,7,8],"tags":[],"class_list":["post-1183777","post","type-post","status-publish","format-standard","hentry","category-golovn-novini","category-news","category-reytingov-agentstva","category-rozvitok-fnansovogo-rinka"],"_links":{"self":[{"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/posts\/1183777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/users\/342"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/comments?post=1183777"}],"version-history":[{"count":3,"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/posts\/1183777\/revisions"}],"predecessor-version":[{"id":1183837,"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/posts\/1183777\/revisions\/1183837"}],"wp:attachment":[{"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/media?parent=1183777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/categories?post=1183777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nssmc.gov.ua\/en\/wp-json\/wp\/v2\/tags?post=1183777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/p>","protected":false},"excerpt":{"rendered":"