Dagong Europe Credit Rating

AM Best Upgrades Issuer Credit Rating for Mt. Morris Mutual Insurance Company

Retrieved on: 
Thursday, July 15, 2021

AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to bbb+ (Good) from bbb (Good) and affirmed the Financial Strength Rating of B+ (Good) of Mt.

Key Points: 
  • AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to bbb+ (Good) from bbb (Good) and affirmed the Financial Strength Rating of B+ (Good) of Mt.
  • Morris Mutual Insurance Company (Mt.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

ESAs publish amended technical standards on the mapping of ECAIs

Retrieved on: 
Friday, June 11, 2021

10 June 2021

Key Points: 
  • 10 June 2021

    Joint Committee

    The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today two amended Implementing Technical Standards (ITS) on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs).

  • Since the adoption in 2019 of the ITS on the mapping of credit assessments of ECAIs, two additional CRAs have been recognised and a number of CRAs have ben de-registered.
  • The ITS have therefore, been amended to reflect the allocation of appropriate risk weights to the newly established ECAIs, and to remove the reference to the de-registered ECAIs.
  • In particular, the ESAs propose to change the Credit Quality Step (CQS) allocation for two ECAIs, and to introduce new credit rating scales for nine ECAIs.

ESAs publish amended technical standards on the mapping of ECAIs

Retrieved on: 
Friday, June 11, 2021

10 June 2021

Key Points: 
  • 10 June 2021

    Joint Committee

    The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today two amended Implementing Technical Standards (ITS) on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs).

  • Since the adoption in 2019 of the ITS on the mapping of credit assessments of ECAIs, two additional CRAs have been recognised and a number of CRAs have ben de-registered.
  • The ITS have therefore, been amended to reflect the allocation of appropriate risk weights to the newly established ECAIs, and to remove the reference to the de-registered ECAIs.
  • In particular, the ESAs propose to change the Credit Quality Step (CQS) allocation for two ECAIs, and to introduce new credit rating scales for nine ECAIs.

ESAs publish amended technical standards on the mapping of ECAIs

Retrieved on: 
Thursday, June 10, 2021

10 June 2021

Key Points: 
  • 10 June 2021

    The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today two amended Implementing Technical Standards (ITS) on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs).

  • Since the adoption in 2019 of the ITS on the mapping of credit assessments of ECAIs, two additional CRAs have been recognised and a number of CRAs have ben de-registered.
  • The ITS have therefore, been amended to reflect the allocation of appropriate risk weights to the newly established ECAIs, and to remove the reference to the de-registered ECAIs.
  • In particular, the ESAs propose to change the Credit Quality Step (CQS) allocation for two ECAIs, and to introduce new credit rating scales for nine ECAIs.

ACRA EUROPE’S CRA REGISTRATION WITHDRAWN

Retrieved on: 
Saturday, May 8, 2021

07 May 2021

Key Points: 
  • 07 May 2021

    Credit Rating Agencies

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has today withdrawn the credit rating agency (CRA) registration of ACRA Europe, a.s. (ACRAE).

  • The withdrawal decision follows the official notification sent to ESMA by ACRA Europe, a.s. on 1 April 2021 of its intention to renounce its registration as a CRA under the conditions set out in Article 20(1)(a) of the CRA Regulation (CRAR).
  • ESMA confirms that ACRA Europe, a.s. has effectively stopped its rating activities.
  • Point (a) of Article 20(1) of the CRA Regulation provides that without prejudice to Article 24, ESMA shall withdraw the registration of a credit rating agency where the credit rating agency "expressly renounces the registration or has provided no credit ratings for the preceding six months".

ACRA EUROPE’S CRA REGISTRATION WITHDRAWN

Retrieved on: 
Saturday, May 8, 2021

07 May 2021

Key Points: 
  • 07 May 2021

    Credit Rating Agencies

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has today withdrawn the credit rating agency (CRA) registration of ACRA Europe, a.s. (ACRAE).

  • The withdrawal decision follows the official notification sent to ESMA by ACRA Europe, a.s. on 1 April 2021 of its intention to renounce its registration as a CRA under the conditions set out in Article 20(1)(a) of the CRA Regulation (CRAR).
  • ESMA confirms that ACRA Europe, a.s. has effectively stopped its rating activities.
  • Point (a) of Article 20(1) of the CRA Regulation provides that without prejudice to Article 24, ESMA shall withdraw the registration of a credit rating agency where the credit rating agency "expressly renounces the registration or has provided no credit ratings for the preceding six months".

EU financial regulators warn of an expected deterioration of asset quality

Retrieved on: 
Wednesday, March 31, 2021

31 March 2021

Key Points: 
  • 31 March 2021

    The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) issued today their first joint risk assessment report of 2021.

  • The report highlights how the COVID-19 pandemic continues to weigh heavily on short-term recovery prospects.
  • It also highlights a number of vulnerabilities in the financial markets and warns of possible further market corrections.
  • In addition, the Joint Committee also plays an important role in the exchange of information with the European Systemic Risk Board.

AM Best Revises Issuer Credit Rating Outlook to Positive for Insurance Subsidiaries of United Heritage Financial Group, Inc.

Retrieved on: 
Friday, February 5, 2021

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb+ of United Heritage Life Insurance Company (UHLIC) (Meridian, ID).

Key Points: 
  • AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb+ of United Heritage Life Insurance Company (UHLIC) (Meridian, ID).
  • These companies are operating subsidiaries of United Heritage Financial Group, Inc.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

S&P Global Ratings Drives Digital-First Access to Debt Markets with Ratings360®

Retrieved on: 
Friday, January 15, 2021

The Ratings360 "Credit Scenario" tools create different market scenarios and indicative credit ratings to help users better understand how a rating is determined using our ratings methodologies and criteria.

Key Points: 
  • The Ratings360 "Credit Scenario" tools create different market scenarios and indicative credit ratings to help users better understand how a rating is determined using our ratings methodologies and criteria.
  • S&P Global Ratings, part of S&P Global Inc. (NYSE: SPGI), is the world's leading provider of independent credit risk research.
  • We publish more than a million credit ratings on debt issued by sovereign, municipal, corporate and financial sector entities.
  • Our research and opinions about relative credit risk provide market participants with information that helps to support the growth of transparent, liquid debt markets worldwide.

ESAs' Joint Board of Appeal dismissed appeal by Scope Ratings GmbH against the European Securities and Markets Authority

Retrieved on: 
Tuesday, January 12, 2021

11 January 2021

Key Points: 
  • 11 January 2021

    Board of Appeal

    Credit Rating Agencies

    The Joint Board of Appeal of the European Supervisory Authorities (ESAs European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) unanimously decided to dismiss the appeal brought by the credit rating agency Scope Ratings GmbH against the European Securities and Markets Authority (ESMA) in relation to the interpretation of the applicable legal provisions of the Credit Rating Agencies (CRA) Regulation.

  • Central to this appeal is the appellants 2015 covered bond methodology, its application in the context of unsolicited ratings issued by the Appellant in 2015, and the Appellants subsequent amendment of this methodology in 2016.
  • The Board of Appeal unanimously decided to dismiss the appeal.
  • In particular, the Board of Appeal found that ESMA did not err in law in its interpretation of the applicable legal provisions of the CRA Regulation.