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Spread Research
Country of Residence:
Languages spoken:
English, French

Spread Research is a France based CRAs established in 2004 focusing on European SMEs, High Yields and Convertible bond issuers. Spread Research operates both under the investor-pays model and issuer-pays model.

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

Registration status in the EU: Spread  is registered as CRA with ESMA since July 1st, 2013.

Since 1. January 2014, SPRR is also a recognized ECAI across the whole European Union. 

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:


To see how this agency’s mapping compares with other agencies, please read our dedicated page on the EU ECAIs.

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

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

Business model: SPRR operates both under the investor-pays model and issuer-pays model.

Coverage: According to SPRR’s website, the agency covers currently around 250 issuers on a global basis (160 European High Yield issuers, 40 European Convertibles and 55 Emerging Market Corporations.

Availability of ratings and reports at website: while SPRR lists all the issuers covered and the latest research available, you will need to subscribe with SPRR to get the rating reports. SPRR ratings are available at Bloomberg