OREANDA-NEWS  On 19 December Credit-Rating, a nationally recognized credit rating agency in Ukraine announced that it established the Risk Management Department, a special agency`s division, which will furnish consulting services regarding risk management issues. The Department will assist banks, insurance and leasing companies, asset management companies and other market participants in management and assessment of risks. In accordance with needs of certain customers the Department will render methodological, analytical and organizational support for development of integral risk management system. The Department will also conduct analysis of existing customer`s risk management system or its certain components and suggest solutions for its enhancement.

The Department will also act as a compiler of analytical information, including the information compiled by Credit-Rating. The Department will provide the customer with the industry analytical materials at request (industry reviews, comparison tables of industry indicators), which may be used for monitoring of risks in the industry.

The purpose of establishment of the Risk Management Department was to meet the needs of Ukrainian financial institutions with regard to risk assessment and management under adverse economic conditions. This initiative complies with Credit-Rating`s mission aimed at enhancement of transparency and investment attractiveness of the national economy, the development of Ukraine`s financial market and mitigation of risks of its participants.

Credit-Rating agency has operated in the Ukrainian market since 2001 being committed to assignment of the national scale ratings . The agency has assigned 952 ratings, specifically to 732 Ukrainian companies, 163 financial institutions and 56 municipalities and their debts, and 1 corporate governance rating.

As of Dec. 1, 2008 Credit-Rating maintains monitoring of 786 ratings, in fact 596 of corporate, 142 of financial and 48 of municipal sectors.