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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Rogue Valley gubernatorial candidate blasts Gov. Brown on climate change ... Historical Society executive director stepping down ... Police say Grants Pass man admits to 50 vehicle thefts in Rogue Valley ... Rogue Valley gubernatorial candidate blasts Gov. Brown on climate change ... Historical Society executive director stepping down ... Police say Grants Pass man admits to 50 vehicle thefts in Rogue Valley ... Russia created a credit rating agency, which is great for Russia because it'll ignore one key type of risk Comment By Elena Holodny MailTribune.com By Elena Holodny Posted Jul. 25, 2015 at 7:01 AM By Elena Holodny Posted Jul. 25, 2015 at 7:01 AM » Social News Sick of getting downgraded, Russia is launching its own new rating company that will be immune to geopolitical risks. "The Russian market needs a strong credit rating agency with a high level of corporate governance and professional competence, capable of satisfying the interests of the economy [that is] authoritative enough for Russian and foreign investors," according to statement released by the Central Bank of Russia on Friday. "Rating agencies are one of the most important elements of financial-market infrastructure and their activity should be resilient to various factors, including geopolitical risks,” according to the statement. In other words, the statement implies that a rating agency's assessment should not be affected by factors such as geopolitical risk. The company will be led by Ekaterina Trofimova, the first vice-president of Gazprombank, and will begin operations next quarter. It'll have 3 billion rubles (roughly $51.2 million) in capital. This announcement comes after the S&P and Moody's cut Russia to junk in 2015. Both agencies cited the ongoing conflict in Ukraine in their statements. At the time, the Russia's finance minister Anton Siluanov stated that the aforementioned downgrades were based on " political factors ." Moody's rating was "not overly negative, but also based on an extremely pessimistic outlook, which has no analogues today," Siluanov told the WSJ in February . "The agency has ignored all the information provided to it about the current state of the Russian economy, its budgetary and financial policy, which has been provided to it," he added. NOW WATCH: 9 non-chemical ways to fall asleep super fast See Also: Russia's recession is so bad it's changing people's smoking habits 10 countries sitting on massive oceans of oil Here are the break-even oil prices for 13 of the world's biggest producers SEE ALSO: 10 countries sitting on massive oceans of oil By Elena Holodny MailTribune.com By Elena Holodny Posted Jul. 25, 2015 at 7:01 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501