Article 17. Activities of the rating committees of credit rating agencies of the Law of the Republic of Kazakhstan On Credit Rating Activities

     1. The procedure for decision-making by the rating committees is established by the internal documents of the credit rating agency in accordance with this Law and the rules of credit rating activities.

     2. In accordance with internal documents, a credit rating agency forms the composition and number of rating committees in order to ensure that the combined knowledge and experience of the members of the rating committee correspond to the industry specialization of the rated person, the type of rating assigned and the current version of the methodology used.

     3. The credit ratings rating committee consists of at least five rating analysts, including the lead rating analyst for this rating facility and the chairman of the rating committee.

     4. Only rating analysts, including the Chairman of the rating committee, have the right to vote at meetings of rating committees. The procedure for appointing the chairman of the rating committee is determined by the internal documents of the credit rating agency.

     5. In case of disagreement with the decision of the rating committee, any participant has the right to file a reasoned appeal, which is considered at a repeat meeting of the rating committee, which is composed of rating analysts who did not participate in the previous meeting of the rating committee.

     6. A credit rating agency forms and operates rating committees in such a way as to ensure its independence, as well as to exclude any political and (or) economic influence on its activities.

     7. The rated person has the right to contact the credit rating agency in case of disagreement with the assigned rating and (or) the rating forecast. The credit rating agency considers the application in accordance with the procedure and deadlines established by the internal documents of the credit rating agency.

     If the results of the review of the application are sufficient for reconsideration, the decision is considered at a meeting of the rating committee, which is composed of rating analysts who did not participate in the previous meeting of the rating committee.

     8. The authorized body establishes other requirements for the procedure for organizing credit rating activities, making decisions on rating assignment, including the procedure for the work of rating committees, including the minimum composition of rating committees for different types of ratings, in regulatory legal acts.

The Law of the Republic of Kazakhstan on Credit Rating Activities  

On credit rating activities, the Law of the Republic of Kazakhstan dated July 23, 2026 No. 351-VIII SAM.  

President    

Republic of Kazakhstan     

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