Oil-rich Venezuela has always paid its debts - even at the expense of its citizens. But this week, everything changed: Venezuela is now officially in default, which means it's officially bankrupt. Rating agency Standard & Poor's declared the nation in 'selective default' on Monday after... [[ This is a content summary only. Visit http://FinanceArmageddon.blogspot.com or http://lindseywilliams101.blogspot.com for full links, other content, and more! ]]
Oil-rich Venezuela has always paid its debts - even at the expense of its citizens. But this week, everything changed: Venezuela is now officially in default, which means it's officially bankrupt. Rating agency Standard & Poor's declared the nation in 'selective default' on Monday after it failed to make $200m in repayments for global bonds due in October. As more payments are due, Venezuela is facing what could be a messy financial unravelling. And that's not a good situation for its starving population as state assets may have to be sold off to pay credit holders. President Nicolas Maduro is acutely aware that he is running out of money, and he wants to restructure the billions owed to China, Russia and oil service providers. Russia has already agreed to restructure $3bn worth of debt held by Moscow. But US sanctions mean that other credit holders can't even be in the same room as those negotiating the restructuring. And it's not clear what's going to happen next. "Where we go from here is anyone's guess," explains Edward Glossop, an emerging markets economist at Capital Economics in London. Venezuela's debt "restructure talks look doomed to fail and it's only a matter of time before the government and state-owned oil company outright defaults on its external debt." "One of the key hurdles for the restructuring is US financial sanctions which prevent US investors from participating in any restructuring or refinancing deal ... and that's why we think the restructuring and refinancing is likely to fail in the current environment," says Glossop. Also on this episode of Counting the Cost: Zimbabwe's broken economy: Zimbabwe's army seized control of the country on Tuesday night, claiming it was removing "criminals" around Robert Mugabe, and held the president and his family under house arrest. But can the military intervention really bring change for the country's ailing economy? The price of Bitcoin jumped as much as 10 percent on Zimbabwe's Golix exchange on Wednesday after the country's army seized power. Zimbabweans, just like Venezuelans, are buying things they think might retain value. Alisa Strobel, a senior economist at IHS Markit from Cape Town, offers her take. Lebanon's economic squeeze: Caught in the middle of a bitter Saudi-Iran rivalry, worries are growing about the outlook for the Lebanese economy. Growth has slowed to just over two percent a year from an average of eight percent before the war in Syria. But regional rivalries between Saudi Arabia and Iran have raised fears of a Qatar-style blockade. The recent resignation of Prime Minister Saad Hariri in Riyadh under mysterious circumstances has not been resolved. Just before he quit, the government had managed to pass a budget after years of political stalemate. Sami Atallah, the director of the Lebanese Center For Policy Studies in Beirut assesses why this matters for the region. Digital pills: It's been called the world's first digital medicine, and analysts say it could open up a new frontier in the Internet of Things. The US Food and Drug Administration just approved a digital pill. Basically, it's a sensor the size of a grain of sand. Once swallowed, it will send data to a smartphone app when patients have taken their medication. Kristen Saloomey reports from New York. Lab meat: Research shows that the global meat industry produces more greenhouse gas emissions than all cars, planes, trains and ships combined. But scientists in the Netherlands say they are close to bringing laboratory-grown meat to the market. This could slice emissions and save energy, reports Fleur Launspach from Amsterdam. More from Counting the Cost on: YouTube - http://aje.io/countingthecostYT Website - http://aljazeera.com/countingthecost/
Moody’s upgrade to India’s credit rating comes as a much-needed boost for India’s Prime Minister, Narendra Modi, who has been criticised for the fallout from the goods and services tax (GST) and demonetisation reforms. Indeed, Moody’s argued that Modi’s reforms will help to stabilize India’s rising debt levels. According to Reuters. Moody's Investors Service upgraded its ratings on India's sovereign bonds for the first time in nearly 14 years on Friday, saying continued progress on economic and institutional reform will boost the country's growth potential. The agency said it was lifting India's rating to Baa2 from Baa3 and changed its rating outlook to stable from positive as risks to India's credit profile were broadly balanced. Moody's upgrade, its first since January 2004, moves India's rating to the second lowest level of investment grade. The upgrade is a shot in the arm for Prime Minister Narendra Modi's government and the reforms it has pushed through, and it comes just weeks after the World Bank moved India up 30 places in its annual ease of doing business rankings. Moody's believes that Modi’s reforms have reduced the risk of a sharp increase in India’s debt, even in potential negative scenarios. On the GST reform, which converted India's 29 states into a single customs union, the rating agency expects it to boost productivity by removing barriers to inter-state trade. In addition, the recent $32 billion recapitalisation of state banks and the reform of the bankruptcy code are beginning to address India’s sovereign credit profile. "While the capital injection will modestly increase the government's debt burden in the near term, it should enable banks to move forward with the resolution of NPLs." Following the upgrade, India’s S&P BSE Sensex Index rose 1.1%, with metals, property and banks the strongest performers. The Sensex has risen 25% so far in 2017, while the banks sector is 42% higher. Retail investors have piled into financial assets and the banking system has been awash with funds since Modi unexpectedly banned high denomination bank notes last November. As Reuters notes, the Indian government had been unsuccessful at persuading Moody’s to upgrade the rating in 2016. Last year, India lobbied hard with Moody's for an upgrade, but failed. The agency raised doubts about the country's debt levels and fragile banks, and declined to budge despite the government's criticism of their rating methodology. The government cheered the upgrade on Friday with Economic Affairs Secretary S. Garg telling reporters the rating upgrade was a recognition of economic reforms undertaken over three years. The Rupee and Indian bonds also rallied on the Moody’s announcement – although some debt traders expressed scepticism that the rally was sustainable. "It seems like Santa Claus has already opened his bag of goodies," said Lakshmi Iyer, head of fixed income at Kotak Mutual Fund said. "The move is overall positive for bonds which were caught in a negative spiral. This is a structural positive which would lead to easing in yields across tenors," she said. The benchmark 10-year bond yield was down 10 basis points at 6.96 percent, the rupee was trading stronger at 64.76 per dollar versus the previous close of 65.3250. "We have been expecting it for a long time and this was long overdue and is very positive for the market. Looks like sentiments are going to become positive," said Sunil Sharma, chief investment officer with Sanctum Wealth Management. However, debt traders said the rally was unlikely to last beyond a few days as the coming heavy bond supply and hawkish inflation outlook were unlikely to change soon. "Who has the guts to continue buying in this market?" said a bond trader at a private bank. India has basked in its status as the world’s fastest growing major economy and Moody’s forecasts suggests that it will continue to outpace China’s roughly 6.5% growth, but only marginally. In the fiscal year to March 2018, Moody’s expects the Indian economy to grow at 6.7% versus last year’s 7.1%. From Reuters. Moody's noted that while a number of key reforms remain at the design phase, it believes those already implemented will advance the government's objective of improving the business climate, enhancing productivity and stimulating investment. “Longer term, India's growth potential is significantly higher than most other Baa-rated sovereigns," said Moody's. Bloomberg published some initial reactions from portfolio managers and analysts. Luke Spajic (head of portfolio management for emerging Asia at Pacific Asset Management Co. in Singapore) “The upgrade came sooner than expected. India has undertaken some tough but necessary reforms like demonetization and the GST, the benefits of which are yet to be fully calculated” “India is on the right long-term path with capital markets -- in both debt and equity -- pricing in potential improvements in investment quality” Lin Jing Leong (investment manager, Asia fixed income, at Aberdeen Standard Investments in Singapore) “The upgrade has been long time coming” given Modi’s reform ambitions. “This is not a surprise -- we do believe all the rating agencies have been behind the curve somewhat” Initial Indian market reaction is likely to be knee-jerk, but we still expect dollar-India credit spreads, onshore India bonds and the rupee to continue outperforming the broader Asia and emerging-market bloc. Navneet Munot (chief investment officer at SBI Funds Management Pvt. in Mumbai) This will boost global investors’ confidence in India, but factors like world monetary policy shifts and company earnings will also be key to foreign inflows. Investors like us who have long positions on India always expected an upgrade. The firm has been boosting equity holdings in Indian corporate lenders, industrial and telecommunications companies. Nischal Maheshwari (head of institutional equities at Edelweiss Securities Ltd. in Mumbai) Equity markets have already given a thumbs up to the news”. It will lead to a reduction in borrowing costs, which is a major improvement. “For foreign investors in equity, it doesn’t change much as their concerns around high stock valuations remain. However, their commitment to the country is in place and the upgrade will only help reiterate their position”. Shameek Ray (head of debt capital markets at ICICI Securities Primary Dealership in Mumbai) Foreign investors won’t be able to take full advantage of the positive sentiment from the upgrade as quotas for them to buy into rupee-denominated government and corporate debt are full, Ray says. “Whenever these quotas open up there will be keen interest to take India exposure,” but in the meantime Indian companies will get more access to offshore markets. “We could see them pricing dollar or Masala bonds at tighter levels”. Ken Hu (chief investment officer for Asia-Pacific fixed income at Invesco Hong Kong Ltd.) The upgrade confirms Invesco’s positive view on India’s structural economic reforms. “With more political capital, Modi and his party are able to launch more difficult but more impactful structural reforms. The positive feedback loop will continue to lead to more credit rating upgrades of India in future”. Chakri Lokapriya (managing director at TCG Asset Management in Mumbai) The upgrade is “very positive for banks, infrastructure and cyclical sectors”. “Banks will benefit strongly as their credit costs come down leading to a reduction in interest costs for infrastructure and manufacturing companies”. Ashley Perrott (head of pan-Asian fixed income at UBS Asset Management in Singapore) The upgrade is a bit of a surprise, so the market is likely to see some initial bond-spread tightening. “But raising one notch does not make much difference from a fundamental perspective”. Avinash Thakur (managing director of debt capital markets at Barclays Plc in Hong Kong) “The upgrade should help issuers from India as they are no longer on the cusp of investment grade”. “It makes a big difference to investors and we will see more dollar bond supply from India”.
Standard & Poor's credit rating for Mongolia stands at B- with stable outlook. Moody's credit rating for Mongolia was last set at Caa1 with stable outlook. Fitch's credit rating for Mongolia was last reported at B- with positive outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Mongolia thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Mongolia as reported by major credit rating agencies.
Via LPLResearch.com, One of the oldest market sayings is: “markets climb a wall of worry” - needless to say, it is sometimes good to be cautious. We listed some of our worries recently in What Might Scare Markets, but the action in the S&P 500 Index over the past year—and so far in November—has that list growing. Here are 10 reasons to worry (in no particular order): On a total return basis, the S&P 500 has been up 12 months in a row. The S&P 500 has only pulled back (from peak to trough) 2.8% over the past year. Junk bonds have weakened relative to equities over the past few weeks, and historically this has been a warning for equities. The yield curve is the flattest it has been since 2007. The S&P 500 hasn’t closed lower by 0.5% or more for 50 consecutive trading days, the longest streak since 1968. The S&P 500 hasn’t finished red three days in a row for more than three months, the longest streak in seven years. The S&P 500 hasn’t corrected 3% from its all-time high for over a year, the longest streak ever. The average daily change (absolute value) for the S&P 500 in 2017 is only 0.30%, the second smallest range on record behind 1964. Transports have been very weak recently, a historical indicator of weakness under the surface. November is historically one of the strongest months going back to 1950, but over the past 10 years the second half of the month has been weak. Per Ryan Detrick, Senior Market Strategist, “It has been a long time since we’ve seen some volatility. Many small cracks are starting to form, and we wouldn’t be surprised if this opens the door for a modest correction. The good news is that with the global economy as strong as it is, this would likely be a nice chance to add to positions.” For more of our thoughts on why next year could see a continuation of the bull market, be on the lookout for LPL Research Outlook 2018: Return of the Business Cycle in late November.
В четверг, 16 ноября, ключевые фондовые индексы Соединенных Штатов Америки в первой половине торгов демонстрируют положительную динамику. "Быки" взяли преимущество в свои руки после двух сессий, завершившихся с ощутимой просадкой, и большой вклад в стимулирование аппетита к покупкам играют успешные квартальные отчетности таких гигантов, как Wal-Mart и Cisco. Тем временем, опубликованные статистические данные по рынку труда оказались хуже ожиданий. Так, количество первичных обращений за пособиями по безработице выросло до 249 тыс, хотя аналитики в среднем ожидали снижения с 239 тыс неделей ранее до 235 тыс. При этом темпы роста промышленного производства в октябре ускорились с 0,4% до 0,9% при среднерыночных прогнозах повышения показателя на 0,5%. К 20:29 МСК индекс широкого рынка Standard & Poor's 500 повышается на 0,87% до 2586,90 пункта, индикатор голубых фишек Dow J
Venezuela is already facing a humanitarian crisis, and now it's also suffering a debt crisis. The rating agency Standard & Poor's Global has declared the nation in 'selective default' after it missed a second deadline to make a payment due in October. Critics say Venezuela's leaders have prioritised clearing debt over a growing humanitarian crisis that has left many of its people hungry and children dying in hospitals due to medical shortages. The country's leaders say US sanctions are making it impossible to refinance its debt, and that they will pursue alternate agreements with traditional rivals such as China and Russia. Al Jazeera’s John Hendren reports. - Subscribe to our channel: http://aje.io/AJSubscribe - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: https://www.facebook.com/aljazeera - Check our website: http://www.aljazeera.com/
Международное рейтинговое агентство Standard & Poor’s объявило частичный дефолт Венесуэлы и с вероятностью в 50% прогнозирует полный дефолт в течение трех месяцев. Об этом передает DW. Сообщается, что S&P сегодня понизило суверенный кредитный рейтинг Венесуэлы […]
Международное рейтинговое агентство Standard & Poor's объявило частичный дефолт Венесуэлы и с вероятностью в 50% прогнозирует полный дефолт в течение трех месяцев, передает DW. Сообщается, что S&P сегодня понизило суверенный кредитный рейтинг Венесуэлы до частичного дефолта и допускает, что повторится ситуация, когда Каракас не сможет в течение трех месяцев погасить долги...
Ratings agency Standard & Poor's says Venezuela failed to make $200m in payments on its bonds.
В 2016 году российская госкомпания предоставила венесуэльской PDVSA аванс в $1 млрд. За три последних года сумма этих авансов достигла $5,5 млрд
Creditors had little expectations from today's ad hoc meeting with "soon-to-default" Venezuela, and with good reason: not only was the meeting attended by several sanctioned Venezuelan officials, potentially jeopardizing the legal status of any bondholders who voluntarily appeared at the Caracas meeting meant to "restructure and refinance" Venezuela's massive debt load, but it was nothing but total confusion, with neither Venezuela, nor creditors knowing what is on the agenda, why they were meeting, or what is the endgame. In sum, the meeting resulted in no firm proposals, lasted no more than 30 minutes, consisted largely of an angry rant by an alleged drug dealer who also happens to be Venezuela's vice president, and ended as chaotically as it started. Quoted by Reuters, one unnamed bondholder had a perfectly succinct summary of what happened today, or rather didn't: “There was no offer, no terms, no strategy, nothing,” the bondholder said, leaving the meeting that lasted a little over half an hour at the ‘White Palace’, departing with a colorful gift-bag containing Venezuelan chocolates and coffee. Credit walked in as confused as they left, a little over a week after President Nicolas Maduro stunned investors with a vow to continue paying Venezuela’s crippling debt, while also seeking to restructure and refinance it; the two things are literally impossible at the same time. There is another problem: both a restructuring and a refinancing appears out of the question, due to U.S. sanctions against the crisis-stricken nation, which make discussions with the key negotiators who has been put on a sanctions black list, grounds for potential arrest. A default would compound Venezuela’s already disastrous economic crisis. As Reuters reports, Monday’s short and confused meeting, attended by senior Venezuelan officials blacklisted by the United States, gave no clarity on how Maduro would carry out his plan, bondholders and their representatives who participated said afterwards. That means Venezuela remains with the dilemma of whether to continuing paying debt at the expense of an increasingly hungry and sick population, or defaulting on creditors and burning its bridges to the global financial system. Vice President Tareck El Aissami, the only government official to speak, devoted most of his remarks to railing against Donald Trump and global financiers who he said have conspired to keep the country from making debt payments on time. He pledged Venezuela would continue to honor its obligations while working to form committees with bondholders to figure out the next steps. He offered no specific proposals for restructuring, according to Bloomberg which was briefed by people who attended the meeting, which wasn’t open to journalists. The surreal procession of Venezuela's descent into insolvency started earlier: The event, held across from the presidential palace at Palacio Blanco, was accompanied by much fanfare, with a literal red carpet laid out for attendees who passed through an honor guard on their way into the building. After government Twitter accounts sent repeated invitations to the meeting over the past week, it appeared that no more than 100 people showed up, and none of them were allowed to ask any questions publicly. Finance Minister Simon Zerpa, Oil Minister Eulogio del Pino, PDVSA President Nelson Martinez and planning vice president Ricardo Menendez were in attendance. The most notable presence, however, was that of chief debt negotiators Vice President Tareck El Aissami and Economy Minister Simon Zerpa - whom the U.S. previously sanctioned for drug trafficking and corruption charges respectively - who attended the meeting for half an hour. As Reuters recounts, "they met with some bondholders, while others stayed out of the room on concerns about penalties for dealing with officials sanctioned by Washington." At that point the meeting turned even more bizarre: El Aissami told creditors that Deutsche Bank may soon cut off some financial services to Venezuela, participants said. He read a statement protesting unfair treatment by global financial institutions, including U.S. President Donald Trump’s sanctions aimed at preventing Venezuela from issuing new debt. In retrospect, the move was at least somewhat clever: “Now Maduro can say: ‘I showed goodwill, the bondholders showed goodwill ... but unfortunately because Uncle Sam is not playing ball we can’t (refinance)',” said Jan Dehn, Head of Research at Ashmore Investment Management, who did not attend the meeting. “I‘m not hugely surprised nothing’s come out of that meeting.” Surprisingly, and ignoring the sheer chaos of recent events, markets remain optimistic that Venezuela will continue to service its debts despite Friday's notice of involuntary default by bond trustee Wilmginton Trust; bulls were noting that Caracas has made close to $2 billion in payments in the past two weeks, albeit delayed. Somehow they extrapolated that this state would continue indefinitely. In any case, the market appears placated for now: bond prices were up across the board on Monday, with the benchmark 2022 notes issued by state oil firm PDVSA rising 3.3 percentage points. Meamwhile, nearly $300 million in late interest payments on three bonds - PDVSA 2027, Venezuela 2019 and Venezuela 2024 - was also due on Monday after 30-day grace periods ended. But bondholders appeared unconcerned at the delay, which was due in part to increased bank vigilance of Venezuela transactions. “My expectation is that the coupon payments will come through as well,” said Ashomer's Dehn. “We know that these delays exist and why they exist.” Meanwhile, for Maduro the choice is simple: keep paying creditors and preserve some minute, if irrelevant, access to capital markets, or conserve the cash and feed the starving domestic population. The sight of poor Venezuelans eating from garbage bags has become a symbol of Venezuela's socialist decay. It contrasts sharply with the era of Chavez, when high oil prices helped fuel state spending. According to Reuters, halting debt service would free up an additional $1.6 billion in hard currency by the end of the year. Those resources could be used to improve supplies of staple goods as Maduro heads into a presidential election expected for 2018. But the strategy could backfire if met with aggressive lawsuits. A default by PDVSA, which issued about half of the country’s outstanding bonds, could ensnare the company’s foreign assets such as refineries in legal battles - potentially crimping export revenue. Which is why when choosing between keeping its creditors happy or feeding its people, Maduro will always pick the former... * * * ... Unless, of course, the decision is made for it: late on Monday evening, S&P announced it was lowering Venezuela's credit rating from CC to Selective Default, or SD. Highlights below: Venezuela Long-Term Foreign Currency Rating Lowered To 'SD' Venezuela failed to make $200 million in coupon payments for its global bonds due 2019 and 2024 within the 30-calendar-day grace period. In line with our criteria for timeliness of payments, we are lowering the issue ratings on these bonds to 'D' from 'CC' and the long-term foreign currency sovereign credit rating on Venezuela to 'SD' from 'CC'. The local currency sovereign credit ratings on Venezuela remain on CreditWatch with negative implications, reflecting our view that the sovereign could again miss a payment on its outstanding debt obligations or advance a distressed debt exchange operation, equivalent to default, within the next three months. RATING ACTION On Nov. 13, 2017, S&P Global Ratings lowered its long- and short-term foreign currency sovereign credit ratings on the Bolivarian Republic of Venezuela to 'SD/D' from 'CC/C'. The long- and short-term local currency sovereign credit ratings remain at 'CCC-/C' and are still on CreditWatch with negative implications. At the same time, we lowered our issue ratings on Venezuela's global bonds due 2019 and 2024 to 'D' from 'CC'. Our issue ratings on the remainder of Venezuela's foreign currency senior unsecured debt remain at 'CC'. Finally, we affirmed our transfer and convertibility assessment on the sovereign at 'CC'. CREDITWATCH Our CreditWatch negative reflects our opinion that there is a one-in-two chance that Venezuela could default again within the next three months. We could lower specific issue ratings to default ('D') if Venezuela doesn't make its overdue coupon payments before the stated grace period expires, or upon the execution of the announced debt restructuring. If the sovereign cures its default on the overdue coupon payments and remains timely on other coupon payments before the restructuring debt operation is completed, we would raise our long-term foreign currency sovereign issuer credit and issue ratings to 'CC'. If any potential restructuring operation is completed, we would lower all of our foreign currency ratings on Venezuela to default and subsequently raise them to the 'CCC' or 'B' category. RATIONALE On Nov. 12, 30 calendar days had passed since two coupon payments were due, and Venezuela had not paid the $200 million due to bondholders (or the bondholders had not received funds by that date). In accordance with our criteria, "Methodology: Timeliness of Payments: Grace Periods, Guarantees, And Use of 'D' And 'SD' Ratings," we have lowered two issue ratings to 'D' (default), and we lowered the long-term foreign currency sovereign credit rating to 'SD' (selective default).
На прошедшей неделе мировые фондовые индексы продемонстрировали отрицательную динамику по итогам торговой недели. Так, в США индекс голубых фишек Dow Jones за неделю снизился на 0,49%, индекс широкого рынка Standard & Poor's 500 просел на 0,21%, а индикатор высокотехнологичных отраслей Nasdaq Composite уменьшился на 0,20%; рынок акций Германии снизился на 2,60%. На минувшей неделе практически отсутствовали важные события. Стоит отметить, что ожидаемое азиатское турне президента США Дональда Трампа в целом прошло нейтрально, однако в конце недели масла в огонь подлили новости о том, что Сенат США опубликовал свое видение налоговой реформы, где было предложено отсрочить снижение корпоративного налога с 35% до 20% до 2019 года. Кроме того, они предлагают введение налога на возврат капитала в размере уже 14%, тогда как ранее было 12%, а сам Дональд Трамп и вовсе в ходе предвыборной кампании говорил о 10%.
Международное рейтинговое агентство Standard & Poor's прогнозирует падение курса украинской гривны на протяжении 2017-2019 годов. Об этом говорится в сообщении компании. Так, к концу 2017 года курс национальной валюты Украины составит 26,9 гривен/доллар и в дальнейшем снизится до 27,3 гривны/доллар в 2018 году, а также продолжит снижаться, достигнув в 2019-2020 годах уровня 27,5 гривны/доллар...
Международное рейтинговое агентство Standard&Poor's прогнозирует курс гривны на конец 2018 года на уровне 27,3 UAH/USD, на конец 2019 года - 27,5 UAH/USD.
Dow Jones Industrial Average и Standard & Poor's 500 завершили торги в пятницу снижением на фоне опасений отсрочки давно ожидаемого сокращения налогов в США.
Прогноз по обоим рейтингам "стабильный".
Standard & Poor's credit rating for Macedonia stands at BB- with stable outlook. Fitch's credit rating for Macedonia was last reported at BB with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Macedonia thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Macedonia as reported by major credit rating agencies.
Международное рейтинговое агентство Standard & Poor's (S&P) подтвердило долгосрочные суверенные рейтинги Украины в национальной и иностранной валютах на уровне «B-», прогноз — «стабильный». Об этом говорится в сообщении агентства.
Американское рейтинговое агентство Standard & Poor's объявило о понижении кредитного рейтинга восьми крупнейших банков США, среди которых JPMorgan Chase & Co., Bank of America Corp. и Citigroup Inc., сообщает Bloomberg.
Банк России принял решение создать национальное рейтинговое агентство, которое возглавит вице-президент "Газпромбанка" Екатерина Трофимова, сообщает ЦБ.