On April 20, 2017,
MARC signed a Memorandum of Understanding (MOU) to enter into a strategic
partnership with Japan Credit Rating Agency, Ltd (JCR). The MOU sets out the
framework for future cooperation between the two credit rating agencies in
facilitating cross-border debt issuances by Japan and Malaysia-domiciled
issuers as well as investment in the cross-border securities offerings in their
respective debt markets.
JCR is a leading
credit rating agency in Japan with more than 60% coverage of Japanese companies
that solicit credit ratings. JCR’s global scale ratings are recognised in the
US and European Union as it is registered with the US Securities and Exchange
Commission (SEC) and certified by the European Securities and Markets Authority
(ESMA), respectively.
Both MARC and JCR
have been expanding their respective global footprints by actively building
networks with other credit rating agencies through similar strategic alliances.
MARC presently has ties with JCR's partner in India, CARE Ratings and
Pakistan-based JCR-VIS Credit Rating Co. Ltd, a company in which JCR has an
investment. MARC and CARE Ratings are also the founding members of Europe-based
and ESMA-certified rating agency, ARC Ratings S.A. MARC currently provides
technical assistance to Bahrain-based Islamic International Rating Agency
(IIRA) and Bangladesh-based domestic rating agency Emerging Credit Rating Ltd
(ECRL).
Prior to this MOU,
MARC had entered into a similar collaborative partnership with JCR Eurasia
Rating, a Turkey-based credit rating agency, in which JCR also has an
investment.
For more
information about the strategic partnership, please contact:
April
21, 2017
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