25 Jul ICAP CRIF RATINGS: Upgrade to the highest Credit Quality Step
Thursday, July 25th 2024
PRESS RELEASE
ICAP CRIF RATINGS: Upgrade to the highest Credit Quality Step.
ICAP CRIF RATINGS: Upgrade to the highest Credit Quality Step.
Exciting business news for Credit Risk Management! Today 25th July, the Implementing Regulation 2024/1872 of the European Commission comes into force, concerning the mapping between Credit Ratings from External Credit Assessment Institutions (ECAIs) and Credit Quality Steps (CQS).
Myrto Kyriakidou, Executive Director, ICAP CRIF RATINGS, stated:
“The new Regulation creates a chain of benefits for all ICAP CRIF Ratings stakeholders. In practice, it means that credit exposures to many leading Greek companies with high ICAP CRIF Rating will henceforth be classified at the very low credit risk level of CQS1. Consequently, there will be proportional benefits in credit risk management processes e.g. in the calculation of risk-weighted assets and capital adequacy.”
Read HERE the full Press Release