Source Issuer Rating
Scope Greece BB+
Scope Austria AAA
Scope Georgia BB
Scope Italy BBB+
Scope Spain A-
RP - 2021-09-30
Scheduled Sovereign rating reviews during October 2021

RP - 2021-09-01
September Sovereign Rating Updates

RP - 2021-08-02
August Sovereign Rating Updates

EU Market Shares

 Date of last update: May 2021

According to Article 8d of the EU Regulation on Credit Rating Agencies, requires issuers and related third parties intending to appoint at least 2 CRAs to consider appointing one "small" CRA (defined as having less than 10% market share measured against revenues). ESMA shall publish annually a corresponding market shares calculation.

On December 14th, 2020, ESMA published the report for the year 2019. According to ESMA calculations, the market shares are as shown on the rigth side.

The shares of other agencies splitts as follows (note that CRAs having less than 0,05% of the EU rating market are not displayed on this graph.

2019 Market shares of other EU rating agencies


The graph below summarizes the market shares of the Big 3 (S&P, Moody and Fitch) based on ESMA reports for the period 2012 to 2019

Market shares of S&P, Moodys and Fitch in the EU from 2012 to 2019


Based on the transparency reports of ESMA and UK FCA registered CRAs, we estimate that the Dominant 3 take 91,7% of the market in 2020