Beyond Ratings' response to ESMA on guidelines and disclosure requirements published
Paris, April 10th, 2019 - European Securities and Markets Authority (ESMA) has made public the comments that Beyond Ratings made to its consultation on guidelines and disclosure requirements for credit ratings. ESMA shared the Beyond Ratings' response among the other agencies' comments on disclosure requirements applicable to credit ratings on ESMA web site.
On 19 December 2018, the European Securities and Markets Authority (ESMA) launched a consultation on disclosure requirements applicable to credit ratings. The consultation sought to address inconsistencies amongst Credit Rating Agencies (CRAs) in the information that is disclosed in accordance with the CRA Regulation. Users of credit ratings, credit rating agencies and entities interested in applying to be a registered CRA were invited to read the accompanying Consultation Paper and respond to the paper with relevant comments and/or answers to the questions raised. The consultation ended on 19 March 2019.
Among the questions raised in the consultation paper was the question of ESG, namely whether there are additional actions that CRAs could take to improve the disclosure of the consideration of ESG factors. The consultation also discussed a proposed Guideline for press releases that accompany credit ratings or ratings outlooks.
All responses to the consultation have been published on ESMA's website. Beyond Ratings' response to guidelines and disclosure requirements is available at the end of this page.