Japan Credit Rating Agency-JCR plans to provide consulting services to the Bucharest Stock Exchange-BVB for the establishment of a Romanian rating agency. An optimistic deadline in this regard is the end of 2007, while a realistic one would be two years from now, BVB president Septimiu Stoica told HotNews.ro.
Stoica said a decision was yet to be made regarding the judicial formula of the future agency and that a feasibility study was under way that might stretch for two to three months.
The rating agency will be dedicated to corporate and authoritative bond issuers with a possibility that its services be expanded to listed and non-listed companies.
A quick consequence of such a move would be the establishment of a more disciplined capital market in Romania and a higher level of transparency in financial processes, Stoica said.