Government to conduct public auction for country’s rating services

The Government decided on May 10 to create a working group for conducting a public auction for services of the country’s rating estimation. According to the informative note attached to the draft decision of the Government, the international credit rating agency Fitch Rating Ltd proposed in 2006 the ministry of Finance to renew the contract on the services provided by this company in order work out the rating of Moldova depending on the economic, financial, legislative achievements and others. At the same time, according to the provisions of the legislation, such services will be contracted after the result of a public auction, and the agency Fitch Ratings Ltd must comply with the imposed rules, the informative note reads. The cost of this contract is estimated at EUR 27 thousand annually. Fitch Ratings Ltd offered to Moldova services related to the evaluation of country’s rating in 1996-2005.