OREANDA-NEWS. Expert RA Rating Agency (RAEX) upgraded Greece sovereign rating to B ("Satisfactory level of creditworthiness") in foreign and national currencies. Credit environment rating of the country was also upgraded to B- ("Satisfactory quality of credit environment) in foreign and national currencies. Previously the country had sovereign credit rating CCC- ("Low level of creditworthiness") and credit environment rating CC ("Very low quality of credit environment") in foreign and national currencies.

Sovereign rating and credit environment rating of Greece were positively influenced by reserve status of the national currency (Euro) and EC membership, reduction of the debt servicing costs due to debt restructuring, low level of short-term debt burden.

Ratings were restrained by high debt burden and its growth, low debt coverage with gold and foreign exchange reserves, high cost of state borrowings in the market. Expert RA is Russian rating agency working on a global scale, incorporated in 1997 by Expert magazine.

Expert RA was evaluated and certified as satisfying to ISO 9001:2008 demands in the following areas: assigning and actualizing expert assessments; analysis of markets and companies, survey activity; organization of business-forums, conferences and round tables. Rating methods were approved by leading international audit-consultation companies: PricewaterhouseCoopers, Deloitte. Procedural quality and information confidentiality principles are confirmed by Accenture.

Expert RA is accredited at the RF Ministry of Finance. The Agency ratings are included in the list of official requirements to banks, insurers, pension funds, issuers. Expert RA ratings have been officially recognized by FSFM, Central Bank of Russia, Vnesheconombank of Russia, MICEX-RTS, Mortgage Crediting Agency, Deposit Insurance Agency, professional associations and self-regulating organizations: VSS, Russia Association, Strategic Initiative Agency, RSA, NAPF, NLU, NSG, NFA, and hundreds of companies and agencies in the period of bids and tenders.

Over 5000 companies from different segments of economy cooperate with Expert RA. The Agency has clients from 10 countries. The Agency database contains over 20000 company names.