ACRAA was organized on 14 September 2001 at the Asian Development Bank headquarters, Metro Manila, by 15 Asian credit rating agencies from 10 countries. As of October 2011, membership has increased to 28 members.
It is ACRAA's objective to advance the highest standards in the conduct of the credit rating process and of the whole rating business. At the core is the adoption of the highest ethical standards. Through dialogues and forums, best practices deserving observance are identified in a constant exercise of benchmarking each other's performance and against international practices.
There are minimum requirements for membership in ACRAA, but it is the ultimate good judgement of the Board of Directors that determines acceptance. Adherence to the purposes of the Association is a continuing qualification to membership.
ACRAA regularly holds training workshops for its analysts to upgrade rating knowledge and skills, inviting professional experts to conduct short courses on selected topics. The participating analysts themselves act as training resource persons.
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