Source Issuer Rating
AA_DE Württembergisc.. A+
AA_DE Bayerische Beam.. A-
AA_DE Gartenbau-Versi.. A++
AA_DE myLife Lebensve.. A-
AA_DE Kieler Rückver.. A
JCRER - 2018-03-15
JCR Eurasia Rating has affirmed the credit ratings of Ak Faktoring A.Ş. and “Cash Flows arising from Bond Issuances” as ‘BBB+ (Trk)’ on the Long Term National Scale and A-2 (Trk) on the Short Term Nat

JCRER - 2017-09-29
JCR Eurasia Rating has reaffirmed the credit ratings of the consolidated structure of “Boyner Perakende ve Tekstil Yatırımları Anonim Şirketi and its Subsidiary “and “Cash Flows Relating to the Outsta

JCRER - 2017-09-29
JCR Eurasia Rating has reviewed and affirmed the credit ratings of T.C. Ziraat Bankası A.Ş. and its Consolidated Structure as ‘AAA (Trk)’ on the Long Term National scale and ‘BBB-‘ on the Long Term In

Regulatory Use


 This section is being prepared with the kind support of 

Logo Fedafin


Legal Background

The regulatory use of ratings in Switzerland is mainly defined by Swiss Financial Market Supervisory Authority FINMA. Unlike in the EU, there is no formal registration process for rating agencies in Switzerland. Rating agencies are given the possibility to apply for recognition as an External Credit Assessment Institute (ECAI) only. According to international regulatory practice, FINMA determines the specific rating segments of recognized ECAI’s that can be used for regulatory capital requirements in consideration with domestic needs.

The FINMA Circular 2012/1 on Credit Rating Agencies entered into force on January 1st 2012 and can be found here: http://www.finma.ch/e/regulierung/Documents/finma-rs-2012-01-e.pdf

Recognized Rating Agencies

Currently, the following Rating Agencies are recognized by FINMA in Switzerland:

The recognition is granted separately for the 3 broad market segments “public finance”, “commercial entities” and “structured Finance”. Whereas Fedafin AG is recognized for the Public Finance segment, the other 4 cover all 3 segments.


Long term Ratings from the above agencies are mapped by FINMA onto the 7 credit quality steps applicable to banks in Switzerland as follows: