Public credit ratings - corporations

Due to the constantly increasing regulatory requirements and related rising costs in recent years, disproportionate to the scale of operations of small credit rating agencies, and the simultaneous lack of demand for public credit ratings among corporate bond issuers in Poland, EuroRating submitted a request to 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 the formal registration of EuroRating in the EU. This decision entered into force on June 18, 2024.

Due to the above, EuroRating has withdrawn all unsolicited public credit ratings and changed the status of solicited credit ratings assigned to companies from public to private.

Pursuant to Article 24 point 4 of the EP Regulation 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.

Withdrawn public credit ratings - corporations

Public credit ratings for corporations withdrawn (or which status was changed to private) in the last 3 years
(companies listed alphabetically)

Company name Credit rating
Allegro.eu SA (Luxembourg) rating withdrawn
Asseco Poland S.A. (Poland) rating withdrawn
Audacia Capital (Ireland) plc  (Ireland) private rating
CCC S.A. (Poland) rating withdrawn
CD Projekt S.A. (Poland) rating withdrawn
Cyfrowy Polsat S.A. (Poland) rating withdrawn
Dino Polska S.A. (Poland) rating withdrawn
Grupa Kety S.A. (Poland) rating withdrawn
Grupa Lotos S.A. (Poland) rating withdrawn
Jastrzebska Spolka Weglowa S.A. (Poland) rating withdrawn
KGHM Polska Miedz S.A. (Poland) rating withdrawn
Kruk S.A. (Poland) rating withdrawn
LCL Opportunities Luxembourg S.C.S. (Luxembourg) 
credit rating for the issuer
private rating
LCL Opportunities Luxembourg S.C.S. (Luxembourg) 
credit rating for a secured bonds issue
private rating
LPP S.A. (Poland) rating withdrawn
Mercator Medical S.A. (Poland) rating withdrawn
Orange Polska S.A. (Poland) rating withdrawn
Orlen S.A. (Poland) rating withdrawn
Pentavirate Securities Securitisation Fund (Luxembourg) 
credit rating for a secured fixed rate Sukuk securities issue
private rating
Pepco Group N.V. (United Kingdom) rating withdrawn
PGE S.A. (Poland) rating withdrawn
PGNiG S.A. (Poland) rating withdrawn
Propifi Bonds plc (Ireland)
credit rating for a secured bonds issue
private rating
Raptor Capital International plc (United Kingdom)
credit rating for the issuer
rating withdrawn
Raptor Capital International plc (United Kingdom)
credit rating for a secured bonds issue
rating withdrawn
Sustainable Capital PLC (United Kingdom)
credit rating for a secured bonds issue
rating withdrawn
Tauron Polska Energia S.A. (Poland) rating withdrawn
TVR Finance Ltd (United Kingdom)
credit rating for a secured bonds issue
rating withdrawn
Zenith Energy Ltd (Canada) private rating

Note: rating history is available by clicking the company's rating

The EuroRating credit rating agency provides a history of public credit ratings withdrawn (or which status was changed to private) by the agency over the last 3 years (36 months) – this is the time horizon of credit risk assessment covered by credit ratings assigned by EuroRating.