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

 Regulatory use - Americas



Legal Framework

In January 2012, the Canadian Securities Administrators adopted the regulatory regime for Credit Rating Organizations. On April 30th, 2012, The Canadian Securities Administrators announced the official designation as Designated Rating Organization (“DRO”) of the following companies:

List of Designated Rating Organizations

List of Designated Rating Organizations in Canada (DRO, CRAs in Canada)

Source: http://www.securities-administrators.ca/aboutcsa.aspx?id=1048&terms=credit+rating

Relation with European Union law

On March 15th, ESMA announced that EU-registered CRAs may endorse credit ratings issued in Canada. In July 2012, ESMA and the Canadian Securities Administrators entered into a Memorandum of Understanding regarding the cooperation of competent authorities for the supervision of Credit Rating Agencies.

On April 18th, 2012, ESMA issued its technical advice to the European Commission and concluded that the Canadian legal and supervisory framework for CRAs is equivalent to the EU regulatory regime. .

On October 5th, 2012, the European commission adopted the decision on the recognition of the legal supervisory frameworks of Canada as equivalent to the requirements of the EU CRA Regulation.


Costa Rica

The Superinterndencia General de Valores ("SUGEVAL") is the supervisor of Calificadoras de Riesgo.

Registered Agencies

List of Credit Rating Agencies in Costa Rica (Calificadoras de riesgo)

You may look up ratings in Costa Rica in the public register maintainde by SUGEVAL following thislink.



The Superintendencia de Companias is the supervisor of Calificadoras de Riesgo.

Registered Agencies

You may find public ratings in Ecuador by following this link and selecting "calificaciones realizadas"



The supervisor of Calificadoras de Riesgo is Banco Central de Uruguay ("BCU")

Registered Agencies

Public ratings on financial institutions and other issuers are available following the respective links.