On June 26th 2023, the Board of the Association of Credit Rating Agencies in Asia (ACRAA) approved the application for membership by the Rating Agency of Cambodia (RAC).
ACRAA was set up in 2001 in Manila, Philippines, with the cooperation and support of the Asian Development Bank (ADB) to “bring domestic credit rating agencies in a regional cooperative effort”. Its objective is “to promote the adoption of best practices and common standards throughout Asia, as well as to promote development of capital markets in Asia and cross-border investment throughout the region”. Currently, ACRAA has 29 members from 14 countries (included RAC) *.
By joining its regional peers, RAC will benefit from the exchange of information, experiences and skills. By improving the quality of market information from issuers to investors conveyed through its credit rating, RAC will contribute to the expansion of the Cambodian capital markets and the development of the Cambodian economy.