Updated 22/10/2024
No longer in force since 31/12/2015

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Article 3 - Ratings to be reported

Article 3

Ratings to be reported

1.   A credit rating agency shall report data on a credit rating for each reporting period until this credit rating is withdrawn.

2.   A credit rating agency shall report both solicited and unsolicited ratings. It shall indicate whether a rating is solicited or unsolicited.

3.   A credit rating agency reporting on behalf of a group of credit rating agencies may include data of third country credit rating agencies belonging to the same affiliated group which are not used in the Union by means of endorsement. Where a credit rating agency does not report such data it shall give an explanation in its qualitative data report.

4.   A credit rating agency shall report data on credit ratings covering at least the last 10 years before the entry into force of Regulation (EC) No 1060/2009. A credit rating agency that did not issue credit ratings prior to 7 December 1999 shall report data for the reporting periods following the first date on which it issued a credit rating. A credit rating agency is not required to report in respect of rating periods that predate its registration or certification under Regulation (EC) No 1060/2009 if it can demonstrate that reporting such data is not proportionate in view of its scale and complexity.

5.   A credit rating agency shall report the following types of ratings:

(a)

corporate ratings;

(b)

structured finance ratings;

(c)

sovereign and public finance ratings.