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Source Issuer Rating
AA_DE Verband öffent.. A+
AA_DE DELA Coöperati.. A
AA_DE Barmenia Kranke.. A+
AA_DE Rhion Versicher.. A+
AA_DE Credit Life AG A+
RP - 2022-04-04
Estimated EU and UK credit rating agencies market shares for 2021

RP - 2022-02-04
Scheduled Sovereign Rating Reviews for February 2022

RP - 2022-01-03
ESMA publishes EU rating agencies market shares report

under rp_research


Country of Residence:
United States
Languages spoken:

Standard & Poors's Ratings Services (S&P) is a global rating agency operating in all market segments. S&P operates under the issuer-pays model.

Registered as CRA in the EU:
Certified as CRA in the EU:
ECAI Status:
Switzerland, European Union, Hong Kong, China, Malaysia
Registered as CRA in:
Argentina, Australia, Brazil, Canada, Hong Kong, China, Japan, Mexico, Singapore, United States

Registration status in the EU: S&P is registered with ESMA since October 31st, 2011. It has registered 3 legal units in Europe and operates additional offices in the EU.

S&P is recognized ECAI in all EU countries since January 1st2014 (before S&P was recognized in all EU countries except Slovenia and the Czech Republic). 

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.

S&P is also a source for the ECB’s ECAF system.

Registration outside of the EU:

Countries endorsable:  Standard & Poor’s, as of 30 April 2012, states that global scale ratings issued by S&P’s ratings affiliates in Argentina, Australia, Brazil, Canada, Hong Kong, Japan, Mexico, Singapore and the United States are endorsable in the European Union. (for U.S. Public Finance, S&P will endorse ratings “on request,” as S&P expects limited market demand for these endorsements).

Further countries:  S&P is registered as CRA in New Zealand, Russia, South Africa, Switzerland and Turkey. Its affiliated company Feller-Rate is registered in Chile, Paraguay and the Dominican Republic, CRISIL in India, CariCRis in Trinidad and Tobago, Philippine Rating Services Coporation in Philippines, RAM (Malaysia and Sri Lanka) and PT. Pefindo in Indonesia, Rating Maalot (Israel).

In addition, S&P is recognized or registered as External Credit Assessment Institution (“ECAI”) under the Basel 2 regime applicable to banks in several jurisdictions. S&P is further recognized in the US by the NAIC and by several central banks.

Market Segments Covered:
Other Corporates, Financial Institutions, Insurances, Sovereign and Public Finance, Structured Finance, Sub-Sovereign, Covered Bonds
Countries Covered:
Business Model:

Business model: S&P operates under the issuer-pays model.

Coverage: S&P covers all market segments on a global basis

Availability of ratings and reports at website: while S&P operates under the issuer-pays model, the ratings and reports are not freely available at S&P website. You will need to register an account to view more information. In order to view rating reports, you will most probably need to buy a subscription.