
Overview
HR Ratings de Mexico S.A de C.V is a Mexico based CRA operating under the issuer-pays model and covering all market segments in Mexico. HR Ratings is registered in the US and certified in the EU.
Registration status in the EU: HR Ratings is certified with ESMA since November 7th, 2014.
HR Ratings is also a recognized ECAI across the whole European Union. The mapping of ratings to the 6 Credit Quality Steps under the Standardized approach for Banks and the 7 Steps under Solvency II is currently on-going.
Registration outside of the EU: HR Ratings is authorized as CRA since March 27th, 2007 by the (Mexican) National Banking and Securities Commission (CNBV). HR Ratings is an ECAI in Mexico.
HR Ratings is registered with the US SEC as an NRSRO since November 5th, 2012, this status being applicable only to its Sub-sovereign ratings.
Business model: HR Ratings operates under the issuer-pays model.
Coverage: HR Ratings covers Sub-Sovereign ratings, banks, investment companies, non-financial corporate, future flow transactions and project finance in Mexico.
Availability of ratings and reports at website: ratings are disclosed at HR Ratings website. Rating reports (in Spanish) are available (including historic reports)