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 The Pakistan Credit Rating Agency Limited

   
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Best Practices Publications

PACRA carries the onus of leadership. As such, from time to time, it conducts research into issues having both a direct and indirect bearing upon credit risk and its dynamics. One key area of such research is best practices. Publications pertaining to best practices may be accessed through this section

Rating the Raters | Sep-11 Credit Rating Agencies | May-11 Rating Practices in India | Mar-11

2008 onwards, the dynamics and understanding of risk has come under increased scrutiny owing to the global credit meltdown. SECP invited the CRAs to express their views on what happened internationally and what role, if any, the CRAs played in the crisis. In response, PACRA made a presentation to SECP Chairman and also highlighted the capacity building measures that, in PACRA’s opinion, are required to strengthen a CRA and its independence.
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An analytical writeup into the essential attributes of a credit rating agency - this publication comments upon PACRA’s practices as it strives to conduct its business as per best practices. International experience has shown that impetus for the rating business has always come from expansion in the debt market. Therefore, in the interest of market development for CRAs in pakistan, the publication goes on to present a comprehensive picture of nascent debt market in Pakistan and suggestions to expand and develop it.
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Rules of the Game is an ongoing publication series in PACRA that lists and elaborates upon the rules and regulations governing credit ratings in different countries. In India, the Securities and Exchange Board of India (SEBI) governs the CRAs. In 2010, SEBI has expanded its regulatory framework in terms of disclosures required from CRAs.
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Rating Practices in USA | Feb-11 Rating Practices in Bangladesh | May-10 Best Practices–Viewpoint | Nov-09

Rules of the Game is an ongoing publication series in PACRA that lists and elaborates upon the rules and regulations governing credit ratings in different countries. The US CRAs, termed nationally recognized statistical rating organizations (NRSROs), are governed by the Securities and Exchange Commission (SEC) and have been exposed to increased regulatory oversight from 2010 onwards in the aftermath of global credit crisis.
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Rules of the Game is an ongoing publication series in PACRA that lists and elaborates upon the rules and regulations governing credit ratings in different countries. In Bangladesh, the Securities and Exchange Board (SECB) governs the CRAs. Bangladesh has a comprehensive regulatory framework for CRAs emphasizing disclosures from CRAs.
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This is a presentation made to ACRAA. It highlights the issue of Integrating harmonization of rating processes, credit rating agencies (CRA)s’ codes of conduct and criteria into best practices. PACRA has come forth with its comments upon the pros and cons of such a practice, if adopted, and ways and means to go about accomplishing it.
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