Warsaw bourse sets up own rating agency
June 23, 2014
The Warsaw Stock Exchange (WSE) established its own rating agency Instytut Analiz i Ratingu (IAiR), aimed at extending rating services to small and medium enterprises and developing Poland's non-treasury debt market, WSE operator GPW said in a press statement.
"The main goal of the Institute is increasing the security of domestic non-Treasury debt instrument market, especially in the segment of small and medium enterprises," the statement reads.
Poland's bond market has a strong, over tenfold growth potential but in order to achieve it, a "better system of risk management and better safeguarding of investor interests, i.e. a widely used and easily accessible rating, is needed," WSE CEO Adam Maciejewski said as quoted in the statement.
IAiR will be managed by economist Maja Goettig along with Blazej Lepczycki.
The new institution should become fully operational within a year from its establishment, Goettig saidd. IAiR will be focused primarily on the Polish market and, in a further perspective, on the CEE market, WSE said.