SNS Ratings

SNS Ratings is a rating agency of the Republic of Uzbekistan founded in April 2019. The agency was established to improve the rating of Uzbekistan and to provide rating services to financial organizations operating in the territory of the republic.

The table below shows the main activities carried out by the SNS Ratings agency.

To date, SNS Ratings has assigned more than 100 credit ratings to organizations from Uzbekistan. Among them are:

1. Commercial banks, e.g., Asia Alliance Bank, Asaka Bank, National Bank for Foreign Economic Activity of Uzbekistan, Trustbank, and Savdogarbank

2. Microfinance organizations and pawn shops, including Amira Invest, Jayron Kredit, Biznes Finans, Credit Invest Group, and Yengil Kredit

3. Insurance companies, including Alfa Life Insurance, DD General Insurance, Trust-Insurance, GASK Kafolat, and Kafolat Hayot Insurance

4. Leasing companies. Examples include Uzagroleasing and Hamkormazlizing

5. Non-financial sector companies, such as OZmetkombinat, Genesis Innovation, First Developing Group, Dori-Darmon, and Arca Group

All the above ratings were assigned by the agency according to the national scale. As you can see, most of the ratings are assigned to financial and credit organizations.

The SNS Ratings agency provides rating services within the framework of the current methodology, taking into account the standards adopted by international agencies (Moody’s, S&P, and Fitch), as well as criteria that are coordinated with the National Association of Financial Market Participants and the National Association of Microfinance Institutions.

At the same time, the agency is now actively assigning ratings to members of the above national associations. SNS Ratings is also negotiating with the largest joint stock companies in Uzbekistan to conclude credit rating agreements with them.

The SNS Ratings agency is engaged in the preparation of rankings for credit, insurance, and microfinance organizations, as well as for pawnshops and joint-stock companies. As criteria, various performance indicators of organizations are used, which are reflected in the financial statements (for example, assets, loans, equity, and income and expenses).