- Latest available (Revised)
- Original (As adopted by EU)
Commission Implementing Regulation (EU) 2020/744 of 4 June 2020 on amending Implementing Regulation (EU) 2016/1800 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)
When the UK left the EU, legislation.gov.uk published EU legislation that had been published by the EU up to IP completion day (31 December 2020 11.00 p.m.). On legislation.gov.uk, these items of legislation are kept up-to-date with any amendments made by the UK since then.
Legislation.gov.uk publishes the UK version. EUR-Lex publishes the EU version. The EU Exit Web Archive holds a snapshot of EUR-Lex’s version from IP completion day (31 December 2020 11.00 p.m.).
There are outstanding changes not yet made to Commission Implementing Regulation (EU) 2020/744. Any changes that have already been made to the legislation appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Credit quality step | 0 | 1 | 2 | 3 | 4 | 5 | 6 |
---|---|---|---|---|---|---|---|
ACRA Europe a.s (formerly European Rating Agency a.s.) | |||||||
Global long-term rating scale | AAA | AA | A | BBB | BB | B | CCC, CC, C, D |
Global short-term rating scale | S1 | S2 | S3, S4, NS | ||||
AM Best Europe-Rating Services Ltd. | |||||||
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 |
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 rating scale | AAA | AA | A | BBB | BB | B | CCC, CC, C, D, E |
Banque de France | |||||||
Global long-term issuer credit ratings scale | 3 ++ | 3 + , 3 | 4 + | 4, 5 + | 5, 6 | 7, 8, 9, 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 | A 1.1 | A 1.2 , A 1.3 | A 2.1 , A 2.2 , A 3.1 | B 1.1 , B 1.2 | B 2.1 , B 2.2 | C 1.1 | C 1.2 , C 2.1 |
Creditreform Rating AG | |||||||
Long-term rating scale | AAA | AA | A | BBB | BB | B, C, SD, 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 |
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 | ||||
Dagong Europe Credit Rating | |||||||
Long-term credit rating scale | AAA | AA | A | BBB | BB | B | CCC, CC, C, D |
Short-term credit rating scale | A-1 | A-2, A-3 | B, C, D | ||||
DBRS Ratings Limited | |||||||
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 | |
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 | |||
Euler Hermes Rating GmbH | |||||||
Global long-term rating scale | AAA | AA | A | BBB | BB | B | CCC, CC, C, SD, D |
EuroRating Sp. z o.o. | |||||||
Global long-term rating scale | AAA | AA | A | BBB | BB | B | CCC, CC, C, D |
Fitch Ratings | |||||||
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 Group S.A | |||||||
Global long-term rating scale | AA, A | BB, B | C, D | E, F | G, H | ||
INC Rating Sp. z o.o. | |||||||
Long-term issuer credit rating scale | 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 | |||||||
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 | |||
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 | |||
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 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 |
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 | |||
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 |
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 | |||
The Economist Intelligence Unit Ltd | |||||||
Sovereign rating band scale | AAA | AA | A | BBB | BB | B | CCC, CC, C, D’ |
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As adopted by EU): The original version of the legislation as it stood when it was first adopted in the EU. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different versions taken from EUR-Lex before exit day and during the implementation period as well as any subsequent versions created after the implementation period as a result of changes made by UK legislation.
The dates for the EU versions are taken from the document dates on EUR-Lex and may not always coincide with when the changes came into force for the document.
For any versions created after the implementation period as a result of changes made by UK legislation the date will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. For further information see our guide to revised legislation on Understanding Legislation.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: