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Document 02016R1800-20211207
Commission Implementing Regulation (EU) 2016/1800 of 11 October 2016 laying down implementing technical standards with regard to the allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps in accordance with Directive 2009/138/EC of the European Parliament and of the Council (Text with EEA relevance)Text with EEA relevance
Consolidated text: Commission Implementing Regulation (EU) 2016/1800 of 11 October 2016 laying down implementing technical standards with regard to the allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps in accordance with Directive 2009/138/EC of the European Parliament and of the Council (Text with EEA relevance)Text with EEA relevance
Commission Implementing Regulation (EU) 2016/1800 of 11 October 2016 laying down implementing technical standards with regard to the allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps in accordance with Directive 2009/138/EC of the European Parliament and of the Council (Text with EEA relevance)Text with EEA relevance
ELI: http://data.europa.eu/eli/reg_impl/2016/1800/2021-12-07
02016R1800 — EN — 07.12.2021 — 003.001
This text is meant purely as a documentation tool and has no legal effect. The Union's institutions do not assume any liability for its contents. The authentic versions of the relevant acts, including their preambles, are those published in the Official Journal of the European Union and available in EUR-Lex. Those official texts are directly accessible through the links embedded in this document
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COMMISSION IMPLEMENTING REGULATION (EU) 2016/1800 of 11 October 2016 laying down implementing technical standards with regard to the allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 275 12.10.2016, p. 19) |
Amended by:
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Official Journal |
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No |
page |
date |
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COMMISSION IMPLEMENTING REGULATION (EU) 2018/633 of 24 April 2018 |
L 105 |
6 |
25.4.2018 |
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COMMISSION IMPLEMENTING REGULATION (EU) 2020/744 of 4 June 2020 |
L 176 |
4 |
5.6.2020 |
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COMMISSION IMPLEMENTING REGULATION (EU) 2021/2006 of 16 November 2021 |
L 407 |
18 |
17.11.2021 |
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COMMISSION IMPLEMENTING REGULATION (EU) 2016/1800
of 11 October 2016
laying down implementing technical standards with regard to the allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps in accordance with Directive 2009/138/EC of the European Parliament and of the Council
(Text with EEA relevance)
Article 1
The allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps shall be that set out in the Annex.
Article 2
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
ANNEX
Allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps
|
Credit quality step |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
|
A.M. Best (EU) Rating Services B.V. |
|
|
|
|
|
|
|
|
Long-term issuer credit ratings scale |
aaa |
aa, aa- |
a+, a, a- |
bbb+, bbb, bbb- |
bb+, bb, bb- |
b+, b, b- |
ccc+, ccc, ccc-, cc, c, d, e, f, s |
|
Long-term issue ratings scale |
aaa |
aa, aa- |
a+, a, a- |
bbb+, bbb, bbb- |
bb+, bb, bb- |
b+, b, b- |
ccc+, ccc, ccc-, cc, c, d, s |
|
Financial strength ratings scale |
|
A++, A+ |
A, A- |
B++, B+ |
B, B- |
C++, C+ |
C, C-, D, E, F, S |
|
Short-term issuer ratings scale |
|
AMB-1+ |
AMB-1- |
AMB-2, AMB-3 |
AMB- 4, d, e, f, s |
|
|
|
Short-term issue ratings scale |
|
AMB-1+ |
AMB-1- |
AMB-2, AMB-3 |
AMB- 4, d, s |
|
|
|
ARC Ratings S.A. |
|
|
|
|
|
|
|
|
Medium- and long-term issuers rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Medium- and long-term issues rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Claims paying ability rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, R |
|
Short-term issuers rating scale |
|
A-1+ |
A-1 |
A-2, A-3 |
B, C, D |
|
|
|
Short-term issues rating scale |
|
A-1+ |
A-1 |
A-2, A-3 |
B, C, D |
|
|
|
ASSEKURATA Assekuranz Rating-Agentur GmbH |
|
|
|
|
|
|
|
|
Long-term credit rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC/C, D |
|
Short-term corporate rating scale |
|
A++ |
A |
|
B, C, D |
|
|
|
Axesor Risk Management SL |
|
|
|
|
|
|
|
|
Global long-term rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D, E |
|
Global short-term rating scale |
|
AS1+ |
AS1 |
AS2 |
AS3, AS4, AS5 |
|
|
|
Banque de France |
|
|
|
|
|
|
|
|
Global long-term issuer credit ratings scale |
|
3++ |
3+, 3 |
4+ |
4, 5+ |
5, 6 |
7, 8, 9, P |
|
Global NEC long-term issuer credit rating scale |
|
1+ |
1, 1- |
2+, 2, 2- |
3+, 3, 3-, 4+, 4, 4-, 5+ |
5, 5-, 6+, 6, 6- |
7, 8, P |
|
BCRA – Credit Rating Agency AD |
|
|
|
|
|
|
|
|
Global long-term ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Global short-term ratings scale |
|
A-1+ |
A-1 |
A-2, A-3 |
B, C, D |
|
|
|
Pension-insurance company long-term scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Pension-insurance company short-term scale |
|
A-1+ |
A-1 |
A-2, A-3 |
B, C, D |
|
|
|
Pension fund long-term scale |
AAA pf |
AA pf |
A pf |
BBB pf |
BB pf |
B pf |
C pf |
|
Guarantee fund long-term scale |
AAA |
AA |
A |
BBB |
BB |
B |
C, D |
|
Guarantee fund short-term scale |
|
A-1+ |
A-1 |
A-2, A-3 |
B, C, D |
|
|
|
Capital Intelligence Ratings Ltd |
|
|
|
|
|
|
|
|
International long-term issuer rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
C, RS, SD, D |
|
International long-term issue rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
International long-term insurer financial strength rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
C,RS, SD, D |
|
International short-term issuer rating scale |
|
A1+ |
A1 |
A2, A3 |
B, C, RS, SD, D |
|
|
|
International short-term issue rating scale |
|
A1+ |
A1 |
A2, A3 |
B, C, D |
|
|
|
International short-term insurer financial strength rating scale |
|
A1+ |
A1 |
A2, A3 |
B, C, RS, SD, D |
|
|
|
Cerved Rating Agency S.p.A. |
|
|
|
|
|
|
|
|
Corporate long-term rating scale |
A1.1 |
A1.2, A1.3 |
A2.1, A2.2, A3.1 |
B1.1, B1.2 |
B2.1, B2.2 |
C1.1 |
C1.2, C2.1 |
|
Corporate short-term rating scale |
|
S-1 |
S-2 |
S-3 |
V-1, R-1 |
|
|
|
Creditreform Rating AG |
|
|
|
|
|
|
|
|
Long-term rating scale |
AAA |
AA |
A |
|
BBB |
BB , B |
C, SD, D |
|
Long-term issue rating scale |
AAA |
AA |
A |
|
BBB |
BB , B |
C, D |
|
Short-term rating scale |
L1 |
L2 |
|
L3, NEL, D |
|
|
|
|
CRIF Ratings S.r.l. |
|
|
|
|
|
|
|
|
Long-term issuer rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D1S, D |
|
Long-term issue rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, DS |
|
SME rating scale |
|
SME1, SME2 |
|
SME3 |
SME4 |
SME5, SME6 |
SME7, SME8 |
|
Short-term issuer rating scale |
|
IG-1 |
|
IG-2 |
SIG-1, SIG-2, SIG-3, SIG-4 |
|
|
|
Short-term issue rating scale |
|
IG-1 |
|
IG-2 |
SIG-1, SIG-2, SIG-3, SIG-4 |
|
|
|
DBRS Ratings GmbH |
|
|
|
|
|
|
|
|
Long-term obligations rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Commercial paper and short-term debt rating scale |
|
R-1 H, R-1 M |
R-1 L |
R-2, R-3 |
R-4, R-5, D |
|
|
|
Financial Strength rating scale |
|
AAA, AA |
A |
BBB |
BB |
B |
CCC, CC, C, R |
|
Expected loss rating scale |
|
AAA(el), AA(el) |
A(el) |
BBB(el) |
BB(el) |
B(el) |
CCC(el), CC(el), C(el) |
|
Egan-Jones Ratings Co. |
|
|
|
|
|
|
|
|
Long-term credit rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC,CC, C, D |
|
Short-term credit rating scale |
|
A-1+ |
A-1 |
A-2 |
A-3, B, C, D |
|
|
|
EuroRating Sp. z o.o. |
|
|
|
|
|
|
|
|
Global long-term rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Fitch Ratings Ireland Limited |
|
|
|
|
|
|
|
|
Long-term issuer default ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, RD, D |
|
Corporate finance obligations – Long-term ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C |
|
Long-term international IFS ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C |
|
Derivative counterparty ratings scale |
|
AAA dcr, AA dcr |
A dcr |
BBB dcr |
BB dcr |
B dcr |
CCC dcr, CC dcr, C dcr |
|
Short-term rating scale |
|
F1+ |
F1 |
F2, F3 |
B, C, RD, D |
|
|
|
Short-term IFS ratings scale |
|
F1+ |
F1 |
F2, F3 |
B, C |
|
|
|
GBB-Rating Gesellschaft für Bonitätsbeurteilung mbH |
|
|
|
|
|
|
|
|
Global long-term rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
HR Ratings de México, S.A. de C.V. |
|
|
|
|
|
|
|
|
Global long-term rating scale |
HR AAA(G) |
HR AA(G) |
HR A(G) |
HR BBB(G) |
HR BB(G) |
HR B(G) |
HR C(G)/HR D(G) |
|
Global short-term rating scale |
HR+1(G) |
HR1(G) |
HR2(G) |
HR3(G) |
HR4(G), HR5(G), HR D(G) |
|
|
|
ICAP S.A |
|
|
|
|
|
|
|
|
Global long-term issuer rating scale |
|
|
AAA, AA |
A, BBB |
BB, B |
CCC, CC |
C, D |
|
Global long-term issue rating scale |
|
|
AAA, AA |
A, BBB |
BB, B |
CCC, CC |
C, D |
|
INBONIS SA |
|
|
|
|
|
|
|
|
Long-term rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Japan Credit Rating Agency Ltd |
|
|
|
|
|
|
|
|
Long-term issuer ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, LD, D |
|
Long-term issue ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Short-term issuer ratings scale |
|
J-1+ |
J-1 |
J-2 |
J-3, NJ, LD, D |
|
|
|
Short-term issue credit ratings scale |
|
J-1+ |
J-1 |
J-2 |
J-3, NJ, D |
|
|
|
Kroll Bond Rating Agency Europe |
|
|
|
|
|
|
|
|
Long-term credit rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Short-term credit rating scale |
|
K1+ |
K1 |
K2, K3 |
B, C, D |
|
|
|
modeFinance S.r.l. |
|
|
|
|
|
|
|
|
Global long-term rating scale |
A1 |
A2 |
A3 |
B1 |
B2 |
B3 |
C1, C2, C3, D |
|
Moody’s Investors Service |
|
|
|
|
|
|
|
|
Global long-term rating scale |
Aaa |
Aa |
A |
Baa |
Ba |
B |
Caa, Ca, C |
|
Global short-term rating scale |
|
P-1 |
P-2 |
P-3 |
NP |
|
|
|
Nordic Credit Rating AS |
|
|
|
|
|
|
|
|
Long-term rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D, SD |
|
Short-term rating scale |
|
|
|
N-1+ |
N-1, N-2, N-3, N-4 |
|
|
|
QIVALIO SAS (formerly Spread Research) |
|
|
|
|
|
|
|
|
Global long-term rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Global short-term rating scale |
|
SR0 |
|
SR1, SR2 |
SR3, SR4, SR5, SRD |
|
|
|
Rating-Agentur Expert RA GmbH |
|
|
|
|
|
|
|
|
International long-term credit rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC,CC, C, D, E |
|
International reliability rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC,CC, C, D, E |
|
International short-term rating scale |
|
RA1+ |
RA1 |
RA2, RA3 |
RA4, RA5, C, D |
|
|
|
Scope Ratings AG |
|
|
|
|
|
|
|
|
Long-term rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC,C, D |
|
Short-term rating scale |
|
S-1+ |
S-1 |
S-2 |
S-3, S-4 |
|
|
|
Scope Hamburg GmbH |
|
|
|
|
|
|
|
|
Global long-term rating scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, SD, D |
|
S&P Global Ratings |
|
|
|
|
|
|
|
|
Long-term issuer credit ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, R, SD/D |
|
Long-term issue credit ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, C, D |
|
Insurer financial strength ratings scale |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, SD/D, R |
|
Long-term Financial Institution Resolution Counterparty Ratings |
AAA |
AA |
A |
BBB |
BB |
B |
CCC, CC, SD, D |
|
Mid-Market Evaluation ratings scale |
|
|
MM1 |
MM2 |
MM3, MM4 |
MM5, MM6 |
MM7, MM8, MMD |
|
Short-term issuer credit ratings scale |
|
A-1+ |
A-1 |
A-2, A-3 |
B, C, R, SD/D |
|
|
|
Short-term issue credit ratings scale |
|
A-1+ |
A-1 |
A-2, A-3 |
B, C, D |
|
|
|
Short-term Financial Institution Resolution Counterparty Ratings |
|
A-1+ |
A-1 |
A-2, A-3 |
B, C, SD/D |
|
|