A Working Group Meeting at ULIE
23 June 2009
A Working Group Meeting at ULIE
The Ukrainian League of Industrialists and Entrepreneurs (ULIE) invited IBSER experts to take part in a working group meeting to discuss a legislative draft "On the Rating System in Ukraine." The meeting took place in Kyiv on 23 June 2009.
One of the key issues this piece of legislation is expected to address is abolishing the mandatory assignment of ratings to issuers and securities, as these requirements make it impossible to conduct local borrowing due to high costs of rating agency services. This would allow local governments to more actively pursue borrowing on the financial market and mobilize additional resources for development of municipal infrastructure.
Negotiations are currently underway between IBSER and ULIE regarding inclusion of IBSER experts in a working group to abolish the mandatory rating system, which group will be constituted from among representatives of ULIE and the State Securities and Stock Market Commission to actively work in this area.
The Ukrainian League of Industrialists and Entrepreneurs (ULIE) invited IBSER experts to take part in a working group meeting to discuss a legislative draft "On the Rating System in Ukraine." The meeting took place in Kyiv on 23 June 2009.
One of the key issues this piece of legislation is expected to address is abolishing the mandatory assignment of ratings to issuers and securities, as these requirements make it impossible to conduct local borrowing due to high costs of rating agency services. This would allow local governments to more actively pursue borrowing on the financial market and mobilize additional resources for development of municipal infrastructure.
Negotiations are currently underway between IBSER and ULIE regarding inclusion of IBSER experts in a working group to abolish the mandatory rating system, which group will be constituted from among representatives of ULIE and the State Securities and Stock Market Commission to actively work in this area.
Glyanec