Russian ACRA (Analytical Credit Rating Agency) acquired the European Rating Agency (ЕRА)

6 June 2018 —
ACRA (Analytical Credit Rating Agency) acquired in April the European Rating Agency (ERA) based in Slovakia, according to announcement on the ACRA website, thus becoming its sole shareholder.

"ERA's acquisition by ACRA serves the purpose of strengthening ACRA's international presence and establishing its footprint on the European market. ACRA intends to boost ERA's existing franchise, sub-sovereign ratings, as well as to develop new expertise in sovereign and supranational ratings. ACRA specifically emphasizes that, in doing so, full compliance with European regulatory framework is its utmost priority," says Ekaterina TROFIMOVA, ACRA CEO.

Emil Hubinak, Chairman of the ЕRA Board of Directors, believes that "ACRA can fulfil ERA's mission and lead ERA to a bright future. ERA's mission is to provide the participants on the financial and capital market with financial and non-financial analyses and risk categorizations, enabling them to illustrate and standardize the risks of those transactions". ERA was established in 2001. In June 2012, ERA became a registered credit rating agency, following which ERA started to assign ratings for regulatory purposes.