Big 5 CRAs in corporate ratings in the EU major 4 economies
The above graph outlines the largest credit rating agencies in (non-financial) corporate ratings measured against the number of ratings outstanding end of 2022 in the EU major economies France, Germany, Italy and Spain. The rating data used for this research are based on ESMAs Central Repository of Ratings (“CEREP”) freely available to all users following […]
Research Report on Corporate Credit Ratings
We are pleased to announce the publication of our report “Corporate Credit Ratings – Review of ESMA registered Credit Rating Agencies (CRAs) rating activity and performance for the period 2013 to 2022”. Overview over the report This report covers a total of 20 credit rating agencies registered with ESMA, the sole supervisor of credit rating […]
EU CRAs market shares for 2022
On December 20th, 2023, the European Securities and Markets Authority (“ESMA”), the supervisor of Credit Rating Agencies (“CRAs”) in the EU published the annual market shares report for the year 2022. According to ESMA, the market shares are as follows: We have reviewed the annual transparency reports for 2022 for all ESMA registered agencies. We […]
UK CRAs market shares for 2022
On November 30th, 2023, the UK Financial Conduct Authority (“FCA”), the supervisor of Credit Rating Agencies (“CRAs”) published the annual market shares report for the year 2022. According to the UK FCA, the market shares are as follows: The above market shares are based on revenue information for the year 2022. We have reviewed the […]
ESAs publish final report on mapping of ECAI ratings
On November 13th, 2023, the European Supervisory Authorities (“ESAs”), composed of EBA, ESMA and EIOPA, published their final report on the mapping of ECAIs ratings to the regulatory credit quality steps. The below table provides an overview over the mapping of the main long term rating scales used by all ECAIs under the banking regulation […]
Turkey’s sovereign credit ratings
Given that Turkey’s National Day on October 29th is approaching, we take here a look onto how Turkey’s sovereign rating has evolved in recent years. Data used Our analysis is based on the rating information available on ESMAs European Ratingplatform (“ERP”). Credit rating agencies registered or certified with ESMA need to report their rating actions […]
Greece’s Sovereign rating
In parallel to our research piece on Turkey’s sovereign rating, we are also having a look onto Greece as a neighboring country. Data used Our analysis is based on the rating information available on ESMAs European Ratingplatform (“ERP”). Credit rating agencies registered or certified with ESMA need to report their rating actions on a daily […]
EthiFinance
EthiFinance is the result of the merger of Spanish agency Axesor and the French agency Spreadresearch. Axesor used to focus on the Spanish mid-cap market while Spreadresearch focused on High yield credits. EthiFinance has now a broader geographic but also market segment coverage. Country of residence: Spain and France Webpage Registration status EhtiFinance is registered […]
Capital Intelligence
Capital Intelligence (“CI”) is a rating agency based in Cyprus focusing mainly on banks in emerging markets. CI also covers non-financial corporates and assigns sovereign ratings. CI operates under a special model as it charges issuers and subscribers for the ratings. Country of residence: Cyprus. Webpage Registration status CI is registered as CRA in the […]
Nordic Credit Rating
Nordic Credit Rating is a new rating agency focusing on the Nordic market. NCR covers banks and corporates in that region. Country of residence: Norway and Sweden Webpage Registration status Nordic Credit Rating is registered as CRA in the European Union with ESMA since August 2018. Nordic Credit Rating is an eligible ECAI across the […]