The FRA has opened the door for the establishment of national credit rating agencies.
Credit Rating Agencies💳 assess an individual’s or company’s creditworthiness, or in other words, their ability to repay debt.
More Details🧐 Credit rating agencies could only be established in Egypt under the rule that international credit rating agencies must contribute to their capital.
The FRA’s decision to remove this rule will allow for the establishment of national credit rating agencies.
Why is this Important🤔 The decision comes amid the increase in bond issuances, which reached 24 in 2021.