RATINGTICKER
Source Issuer Rating
AA_DE INTER Krankenve.. A+
AA_DE Sueddeutsche Kr.. A+
AA_DE ALTE OLDENBURGE.. A++
AA_DE Rhion Versicher.. A
AA_DE Credit Life AG A
NEWS
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

JCRER - 2017-09-27
JCR Eurasia Rating has affirmed the credit ratings of Şekerbank T.A.Ş. as ‘AA-(Trk)’ on the Long Term National Scale and as ‘A-1+(Trk)’ on the Short-Term National Scale in the periodic annual review a

Research

In this section, you shall find information on research reports by RATINGPLATFORM.

 

2017 Review of the European Rating Market

Date: October 25th, 2017

This report provides an overview over the EU rating market with its 29 players. Based on the transparency reports of all agencies, we inform over the size of the market in terms of revenues and employees. One section is devoted to the use of rating agencies by issuers as well as the ECAI status (including the use of ECAIs by banks). We also address Brexit in the context of rating agencies. We provide a list of usefull links.  

The report costs EUR 250,- (excl. VAT). The applicable VAT rate in Austria is 20%. For Clients domiciled in the EU, if you can provide your valid VAT- ID, we shall issue the invoice without VAT. For Clients based outside of the EU, no VAT is charged. The order form is available here.

 

2017 Sub-Sovereign Rating Calendar

Date: January 17th, 2017

Based on the announced rating release calendars of 7 Credit Rating Agencies, we have compiled a single reference calendar for Sub-Sovereign (Regional and Municipal) ratings. 

A free copy of this calendar is available to our registered users at the bottom of the page. 

 

2017 Sovereign Rating Calendar

Date: December 29th, 2016

According to the EU Regulation on Credit Rating Agencies, Credit Rating Agencies need to publish a calendar of Sovereign rating actions by December for the following year.

We have compiled a single calendar based on the information of 11 ESMA registered agencies: ARC Rating ("ARC"), Bulgarian Credit Rating Agency ("BCRA"), Capital Intelligence ("CI"), Creditreform Rating AG ("CRAG"), DBRS, the Economist Intelligence Unit ("EIU"), ExpertRA, Fitchratings ("Fitch"), Moodys Investors Services ("Moodys"), Scope Ratings ("Scope") and Standard and Poors ("SP).

A free copy of the report is available to our registered users at the bottom of this page.

 

User Handbook: Mapping of ECAI ratings in the EU

Date: November 25th, 2016


On October 12th, 2016, three Implementing regulations on the mapping of credit ratings were published in the Official Journal of the European Union. These Implementing regulations cover a total of 26 External Credit Assessment Institutions (“ECAIs”) and provide the mapping of rating scales used by Credit Rating Agencies with the credit quality steps defined under the capital requirements for banks and insurances.

We have compiled a “User Handbook” covering all three implementing regulations and all 26 ECAIs. The Handbook contains all mappings available for each ECAI. Additionally, the Handbook gives a cross-agency overview and outlines the references to ECAI in the capital requirements regulations and Solvency II.

If you wish to receive a copy of this handbook, kindly send us a mail

 

2016 Guide to the European Rating Market

Date: September 24th, 2016

The fourth edition of our comprehensive "Guide to the European Rating Market" is now available.

The guide contains a description of the business model of each of the 31 ECAIs (26 registered CRAs, 4 certified CRAs and one National Bank exempted from registering). Additionally, the guide includes an overview of the whole market measured in terms of number of ratings, employees and turnover.

One section addresses the regulatory framework on CRAs in Europe as well as the latest developments during our reporting period September 2015 to September 2016.

The Guide costs EUR 250,- (excl. VAT). The applicable VAT rate in Austria is 20%. For Clients domiciled in the EU, if you can provide your valid VAT- ID, we shall issue the invoice without VAT. For Clients based outside of the EU, no VAT is charged. The order form is available here.

 

Use of several Rating Agencies to determine Risk Weighted Assets

Date: July 4th, 2016

In this research report, we take the perspective of an investor having a portfolio of sovereign assets based on each countries share in the IMF capital (measured at the Special Drawing Rigths level - SDR). Using the IMF SDRs provides a constant basis of comparison and excludes exchange rate changes as well as changes in the composition of the assets – this allows focusing the attention on the rating activity of Credit Rating Agencies (CRAs) and how this impacts on Risk Weighted Assets (RWAs)

Our analysis is based on 8 ESMA registered CRAs and covers year end ratings for the period 2013 to 2015. Given that the vast majority of ratings fall into the lowest Risk Weight (RW) of 0%, our global investor will see RWA decreasing whatever CRA is being used. The RWAs decrease as the rated universe of the respective CRA increases: the higher the coverage, the lower the RWAs. In case our investors uses more than 2 CRAs, given that the ECAI rules require the use of the second best rating (measured at the level of the Risk Weight) and the continuous use of the nominated ECAIs, we find that using all CRAs reduces and stabilizes RWAs over time.

The report costs EUR 750,- (excl. VAT). The applicable VAT rate in Austria is 20%. For Clients domiciled in the EU, if you can provide your valid VAT- ID, we shall issue the invoice without VAT. For Clients based outside of the EU, no VAT is charged.  

2016 Sovereign Rating Calendar

Date: December 30th, 2015

With reference to the CRA 3 requirements on Sovereign Ratings and more precisely the Sovereign calendar, we have updated our "Sovereing Rating Calendar" with the information of ESMA registered Credit Rating Agencies assigning ratings to the Top-level Sovereign - our calendar covers this year 10 CRAs and 169 Sovereigns. 

A free copy of the report is available to our registered users below. 

 

2015 Guide to the EU Rating Market

Date: October 9th, 2015

The third edition of our comprehensive guide on the European Union rating market is now avaialble. Our guide covers the following topics: 

overview over the rating market in terms of players, business models, revenues (based on the 2014 Transaparency reports of CRAs), number of employees. We also address the evolving ECAI status n Europe,

description of the legal framework on CRAs in Europe, which includes requirements on issuers and users of ratings, We also reference all developments during 2015 in the European Union and highligth key international developements. 

short profiles of all ESMA registered or certified CRAs: information on business model, market segments covered, number of ratings outstanding according to CEREP, definition of default and description of rating scale used. 

The Guide costs EUR 250,- (excl. VAT). The applicable VAT rate in Austria is 20%. For Clients domiciled in the EU, if you can provide your valid VAT- ID, we shall issue the invoice without VAT. For Clients based outside of the EU, no VAT is charged. The order form is available here.

Please use our contact form for any further questions.

2015 Sovereign Rating Calendar

Date: December 31st, 2014

With reference to the CRA 3 requirements on Sovereign Ratings and more precisely the Sovereign calendar, we have updated our "Sovereing Rating Calendar" with the information of ESMA registered Credit Rating Agencies assigning ratings to the Top-level Sovereign. 

A free copy of this report is available to our regsitered users below.

 

Guide to the global rating market

Date: December 12th, 2014 

We are pleased to announce the publication of our latest research report covering the global rating market.

In order to prepare this report, we have screened around 60 jurisdictions for information regarding Credit Rating Agencies (or similar concepts such as NRSROs, DROs, clasificadoras de riesgo, calificadoras de valores) to identify the registered players and the relevant supervisors.

As the disclosures requirements by CRAs vary from country to country and that the level of disclosures by supervisors also differs, the information available in this guide may also vary. For some countries, we have calculated market shares according to revenues, number of ratings outstanding and/or number of employees.

We have identified more than 100 credit rating agencies globally. In this report we provide short profiles on about half of these players covering their recognition (including ECAI status), a description of the business model, the coverage (in terms of market segments and countries) and whether ratings and rating reports are accessible on the website.

Please find here the detailed table of content of the guide including an order form.

 

This report costs EUR 750,- excluding VAT.

For competent Authorities responsible for supervising CRAs, the guide is available for free. RATINGPLATFORM may disclose the names of the Authorities having requested such a free copy..

VAT Rules: The applicable VAT rate in Austria is 20%. For Clients based in the EU, if you can provide your valid VAT-ID, no VAT is due. For Clients outside of the EU, no VAT is applicable.

 

2014 Guide to the EU Rating Market

Date: September 24th, 2014

We are pleased to announce the publication of our “2014 Guide to the EU Rating Market”. This guide gives an overview of the EU rating market in terms of size (revenues, number of employees, number of ratings outstanding) as well as on the legal framework applicable in Europe on CRAs, issuers and users of ratings.

For each of the 26 ECAIs in Europe (out of which 23 registered CRAs, 2 certified CRAs and one exempted from registering as CRA), we describe the business model of the CRA based on the information disclosed in the respective transparency reports, CRA websites and the ESMA database CEREP.

This 78 pages report is meant for the following parties: Issuers intending to engage a rating agency, banks, rating advisors, financial advisors and users of ratings.

The Guide costs EUR 250,- (excl. VAT). The applicable VAT rate in Austria is 20%. For Clients domiciled in the EU, if you can provide your valid VAT- ID, we shall issue the invoice without VAT. For Clients based outside of the EU, no VAT is charged. The order form is available here.

Please use our contact form for any further questions.

 

Reseach on Sovereign Assessments

Date: April 18th, 2014

We are pleased to announce the publication of our research report "Sovereign Assessments: Comparison between the Sovereign Ratings of 12 CRAs and the OECD Country Risk Classification - ECAI rules and Risk Weights analysis". This research reports contains the following key sections:

- historic performance of EU registered CRAs having data published at the CEREP database for the period 2005 to 2012 measured on the level of Risk weigths. More recent figures shall be made available by CEREP probably end of April 2014. 

- historic performance of the OECD Country Risk Classification for the period 2005 to 2012.

- comparison of ratings as of december 2013 for the 12 sources and a "ranking" of Sovereigns based on the average ratings and spread in the rating classification..

- how does Risk Weigthed Exposure perform when using 2 or more CRAs in Europe? How are the comparative figures for other regions.

If you would like to receive a copy, please send us an email via our contact form. The price for the report is EUR 750,- excluding applicable VAT.

 

2014 Sovereign Rating Calendar

Date: January 6th, 2014

With reference to the CRA 3 requirements on Sovereign Ratings and more precisely the Sovereign calendar, we have compiled the information of ESMA registered Credit Rating Agencies assigning ratings to the Top-level Sovereign. A constant flow of rating releases is to be expected during 2014.

If you would like to receive a free copy, please send us an email via our contact form.

 

Research on European Rating Market

Date: September 17th, 2013

We are pleased to announce the publication of the “Guide to the European Rating Market: overview over the market, its players and the legal framework” as well “The European Rating Market Report 2013: Profiles, Rating Activity and Performance of Credit Rating Agencies”. These two reports are the first comprehensive reviews of this highly diversified market.

While we provide already substantial information on this site, the two reports contain substantial additional research on questions such as:

-        Who and how can ratings from CRAs and/or ECAIs be used currently?

-        What is the size of the market?

-        Who are all these 24 registered or certified Credit Rating Agencies? What is their business model and coverage?

-        How did the agencies perform over time?

-        Are there differences between the ratings on Banks, Insurances, non-financial corporates Sovereign and Structured Finance?

 

       

We propose two different formats: 

- “Guide to the European Rating Market: overview over the market, its players and the legal framework” (“Guide”, 75 pages):  this Guide is meant for people who would like to familiarize with the European Rating Market (eg Issuers). We provide here a review of the EU Regulation on Rating Agencies and the different requirements according to market segments applicable to issuers. We review the rating market in terms of revenues, employees, number of ratings etc. Thereafter, we describe all currently registered or certified CRAs.

The European Rating Market Report 2013: Profiles, Rating Activity and Performance of Credit Rating Agencies” (“Report”, 175 pages) based on the above Guide, the Report gives in addition detailed insight into the rating activity of CRAs for 5 market segments separately (non-financial corporate, banks, insurances, Sovereigns and Structured finance) for the period 2005 to 2012. We further provide a cross-agency segment analysis. Finally, we tackle cross-segment issues such a default rates or average ratings. The Report is meant for professional users of ratings interested in or looking for detailed figures.

The Report uses the information available at CEREP – an exhaustive database on ratings maintained by ESMA. We have downloaded from June to September 2013 on a segment basis the data available on rating activity, default rates and transition matrixes on the currently 18 CRAs. Given that CRAs use highly different rating scales, we have introduced benchmarks based on the 6 ECAI credit quality steps und the Standardized Approach in order to allow comparability of ratings across CRAs and segments.

Note that the CEREP database is freely available to all users at ESMA’s website. Note further that RATINGPLATFORM GesmbH, the publisher of the Guide and Report, is not connected with the European Ratingplatform as foreseen under CRA III. RATINGPLATFORM was founded in 2010 and registered as Limited liability company in August 2011. 

Prices: EUR 250,- for the Guide and EUR 750,- for the Report (both figures excluding VAT).

VAT: normal VAT rate in Austria is 20%. For clients domiciled in the EU, if you can provide your valid VAT-ID, we shall issue the invoice excluding VAT. For clients outside of the EU, no VAT is charged. 

Please use our contact form to place an order with us.

 

For registered users 

Our section for registered users covers currently the following topic:

- Sovereign Rating Calendars for 2015, 2016 and 2017.

- Global list of Credit Rating Agencies Supervisors: based on our research of over 75 jurisdictions, we provide the links to all Supervisors.

Read more...