CREDIT RATING WITHDRAWAL RATIONALE
ACRA has withdrawn the BBB-(RU) credit rating, outlook Stable, of Joint-stock company Insurance company “BASK” upon its request. The rating has been withdrawn without its concurrent affirmation.
REGULATORY DISCLOSURE
The credit rating was previously assigned under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Insurance Organizations on the National Scale for the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.
The credit rating of Joint-stock company Insurance company “BASK” was published by ACRA for the first time on July 7, 2023.
The credit rating was assigned based on data provided by Joint-stock company Insurance company “BASK”, information from publicly available sources, and ACRA’s own databases. The rating analysis was performed using the GAAP and IFRS financial statements of Joint-stock company Insurance company “BASK”. The credit rating is solicited and Joint-stock company Insurance company “BASK” participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided no additional services to Joint-stock company Insurance company “BASK”. No conflicts of interest were discovered in the course of credit rating assignment.
