Home About EU-based EUROPEAN RATING AGENCY (ERA) is acquired by ACRA
EU-based EUROPEAN RATING AGENCY (ERA) is acquired by ACRA
Thursday, 17 May 2018

The EUROPEAN RATING AGENCY (ERA) proudly announces a new strategic partnership with the Analytical Credit Rating Agency (ACRA). The combination of ERA, an established EU rating agency, with the dynamism and expertise of ACRA, one of Russia’s leading rating agencies, will provide synergies that will benefit capital markets. 

On April 20, 2018, ERA’s single shareholder and Board Chairman, Mr. Emil Hubinák and ACRA’s CEO, Ms Ekaterina Trofimova signed an agreement making ACRA ERA’s sole shareholder, representing 100 percent of ERA’s issued share capital, together with all voting and ancillary rights. ACRA is committed to continuing ERA`s development, including plans to further develop ERA`s rating business in Central and Eastern Europe.  

ACRA was established on November 20, 2015. Its list of shareholders includes 27 major Russian companies and financial institutions, each holding a 3.7 percent of its share capital, which totals over €39,000,000. ACRA operates in compliance with all existing regulatory requirements. Its main objective is to provide Russian capital markets with high-quality rating products.

Mr Hubinák, ERA’s former single shareholder and Board Chairman said: “The mission of ERA is to provide to market participants with financial and non-financial analysis and risk assessment, principally through credit ratings. I am handing over ERA into the capable hands of ACRA, with complete trust that ACRA will fulfil ERA’s mission and lead ERA to a bright future."

Ms Trofimova, ACRA’s CEO said: “ERA's acquisition by ACRA serves to strengthen ACRA's international presence by establishing a footprint in EU markets. ACRA intends to extend ERA's existing subsovereign franchise, as well as to develop ERA’s expertise in sovereign and supranational ratings. ACRA wishes to emphasize that remaining in full compliance with the European regulatory framework is of the highest priority. ACRA expects that the synergies created by its analytical and methodological resources along with ERA's knowledge of European regulatory practices and market characteristics will benefit both agencies and will raise ERA's franchise to a new level.”