Argentina
Currently 4 companies are registered as “Calificadoras de Riesgo” with Commission Nacional de Valores (“CNV Argentina”): http://www.cnv.gob.ar/infofinan/calif/pub/esp/app/ca_CR_Sel.asp?Lang=0
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Evaluadora Latinoamericana S.A. Calificadora de Riesgo |
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Fitch Argentina Calificadora de Riesgo S.A. |
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Moody s Latin America Calificadora de Riesgo S.A. |
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Standard & Poor s International Ratings, LLC. Sucursal Argentina |
The following market segments are defined in Argentina: Acciones, Obligaciones negociables, titulos de deuda de corto plazo, titulos publicos, fondos communes de inversion, fondos communes cerrados de credito, fidceicomissos financieros.
At CNV dedicated webpage on CRAs (califcadoras de Riesgo), substantial information on each CRA is available:
- Rating methodologies
- Rating transitions and default study
- Pricing schedules
- Financial statements (annual and quarterly)
- Information on key personnel
On CNV Argentina website, you may look up publicly available ratings in Argentina: http://www.cnv.gob.ar/infofinan/calif/pub/esp/app/ca_TT_Sel.asp?Lang=0
Relation with European Union
On April 18th, 2012 ESMA announced that it considers the regulatory regime for Credit Rating Agencies in Argentina to be in line with European Union rules. In July 2012, ESMA and the CNV Argentina entered into a Memorandum of Understanding regarding the cooperation of competent authorities for the supervision of Credit Rating Agencies. Since then, ratings issued in Argentina can be endorsed by EU rating agencies.
On April 28th, 2014, the European Commission adopted the implementing decision on the recognition of the legal and supervisory framework in Argentina as equivalent to the requirements of the EU Regulation on CRAs.