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Source Issuer Rating
Scope United States AA
Scope Denmark AAA
Scope Norway AAA
Scope Sweden AAA
Scope Finland AA+
RP - 2021-11-30
Sovereign Rating Reviews during December 2021

RP - 2021-11-25
Updated mapping of ECAI ratings in the EU officially adopted

RP - 2021-11-03
November 2021 Sovereign Rating Reviews

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Cerved Rating Agency
Country of Residence:
Languages spoken:
English, Italian

Cerved Rating Agency is an Italian rating agency issuing credit ratings on Italian non financial corporate entities (including SMEs) and their issuances. Cerved operates both under the investor and issuer pays model.

Registered as CRA in the EU:
Certified as CRA in the EU:
ECAI Status:
European Union

Cerved is registered with ESMA as CRA since December 2012.

Since 1. January 2014, Cerved is also a recognized ECAI across the whole European Union (from March 2008 until December 2013 Cerved Rating Agency was the only Italian CRA recognized ECAI by the Bank of Italy). On November 1st, 2016, the following mapping of ECAI ratings to the 6 Credit Quality Steps under the Standardized approach for Banks (Capital Requirements Regulation, CRR) and the 7 Steps under Solvency II for insurances in the EU entered into force:


Note that additional rating scales may have been mapped. To view all mappings, login with your account and read the “RP Research” on this agency. To see how this agency’s mapping compares with other agencies, please read our dedicated page on the EU ECAIs.

Cerved is considered a small Credit rating agency for the purpose of Article 8d of CRAIII.

Cerved’s Rating Tool is accepted as a source within ECB’s ECAF system. 

Market Segments Covered:
Other Corporates
Countries Covered:
Business Model:

Business model: Cerved Rating Agency is part of the wider Cerved Group, which offers business and marketing information, credit scoring systems and credit collection services.

Cerved Rating Agency operates both under ‘investor pays’ and ‘issuer pays’ model.

Coverage: Cerved Rating Agency issues rating on non-financial Corporates and non-financial Corporate Bonds in Italy.

Availability of ratings and reports at website: Cerved Rating Agency does not publish its ratings on its web-site.