The Warsaw Stock Exchange (WSE) has announced the establishment of the Institute for Analysis and Rating (IA&R), which is designed to bridge the gap in the rating offer on the local market in the segment of small and medium-sized enterprises. WSE stressed that IA&R will improve the credibility and transparency of Poland's non-Treasury debt market. The bourse also noted that the establishment of the Institute is a continuation of WSE's initiatives aimed at enhancement of the quality of the Polish capital market and reinforcement of its role in financing national development.

The Institute will offer a broad range of rating products addressed to different market segments. Its mission is to cover the biggest possible number of issuers and issues of non-Treasury debt with ratings. Rating fees will be highly competitive and tailored to the specificity of the local bond market, calculated to ensure that smaller issuers can also afford ratings, she added.

The offer of IA&R will be gradually expanded to include debt market information and analytical products offered to investors. The institution is expected to break even within three or four years.