Subject. The article discusses prospects for the development of Russian rating agencies under sanctions and increasing geopolitical tensions, including enhancing their competitiveness in the international market. Objectives. The purpose is to examine the main areas of activity of national rating agencies, including the challenges and prospects for international cooperation, explore the limitations of comparing national and international rating scales. Methods. The study rests on qualitative and quantitative analysis of industry reports and methodologies of Russian rating agencies for comparing credit ratings. It also employs methods of comparative analysis and generalization. Results. The study identified key development areas for Russian rating agencies under sanctions, including adaptation to new geopolitical realities and international cooperation within regional associations. It determined factors contributing to and hindering the growing influence of national rating agencies, analyzed approaches to the comparison of national and international rating scales. Conclusions. Amid increasing geopolitical tensions and the bias of the ‘Big Three’ international rating agencies, the importance of developing an independent and objective national creditworthiness assessment system is growing. Russian rating agencies have the potential for growth and expansion of international cooperation, especially within the BRICS framework, which helps reduce dependence on dominant players and strengthen Russia's position in the global financial market.
Keywords: rating agency, Big Three, rating scale, mapping, BRICS
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