Description

Credit rating is one of the key elements for the development of bond markets. ADB believes that international best practices in rating, particularly those aim to address conflict of interest in rating complex products in line with recent IOSCO recommendations, are essential for Asian domestic credit rating agencies (DCRAs) to adopt. International best practices will help enhance comparability of rating among credit rating agencies—domestic and global—and give investors greater confidence in DCRAs' ratings. The Handbook should also serve as a reference for regulators in the region in regulating credit rating agencies to ensure that DCRAs meet the highest standards of the international organization of securities regulators.

Contents

• Introduction
• Summary of the Main Recommendations
• Essential Best Practices
• Desirable Best Practices
• Implementation Schedule for Domestic Credit Rating Agencies
• Appendix 1 Mapping of Rating Scales for Domestic Credit Rating Agencies Compliant with Best Practices
• Appendix 2 The International Organization of Securities Commissions Code of Conduct