EuroRating resigned from the registration in the EU

Due to the constantly growing regulatory burden in the European Union regarding capital markets and credit rating agencies in recent years, which was associated with an excessive increase in regulatory costs, EuroRating has filed a request with ESMA to withdraw the company's registration as a credit rating agency authorized to issue public credit ratings in the EU. At the company's request, ESMA issued a decision to withdraw EuroRating's formal registration in the EU. This decision came into effect on June 18, 2024.

Pursuant to Article 24 point 4 of the Regulation (EC) No. 1060/2009, public credit ratings previously assigned by EuroRating may continue to be used for regulatory purposes after ESMA issues a decision to withdraw the agency's registration in the EU for the period of:

• ten working days from the date of publication of ESMA's decision, if there are credit ratings of the same financial instrument or entity issued by other credit rating agencies registered in the EU; or
• three months from the date of publication of ESMA's decision, if there are no credit ratings of the same financial instrument or entity issued by other credit rating agencies registered in the EU.

After the company's resignation from the formal registration in the EU, EuroRating continues to operate as a credit rating agency, but it focuses on issuing private credit ratings (one-off and monitored), which are not subject to the regime of the Regulation (EC) No. 1060/2009 and do not require registration in the EU.