ESMA Publishes Updated CRA Q&A

Date 16/12/2015

The European Securities and Markets Authority (ESMA) has published an updated questions and answers on the application of the Credit Rating Agencies Regulation.

The revised Q&A clarifies the definition of unsolicited credit ratings, specifically whether a credit rating issued upon the request of a person different from the rated entity/issuer and a related third party constitutes a solicited credit rating.