24 Nov New methodology for the assignment of Credit Ratings to Non-Banks Financial Institutions

Athens, 24th November 2023

Credit Rating Agency of ICAP CRIF – New methodology for the assignment of Credit Ratings to Non-Banks Financial Institutions

The Credit Rating Agency of ICAP CRIF, consistent with the company’s business objectives and strategies, has recently developed a new methodology to assign Credit Ratings for Non-Banks Financial Institutions, at European level, thereby broadening the range of rating services it provides.

Henceforth it assigns Credit Ratings, in accordance with the requirements of Regulation (EC) 1060/2009 of the European Parliament and of the Council of 16 September 2009 on Credit Rating Agencies, also for non-deposit-taking financial institutions, including, inter alia, mortgage companies, credit cards, general consumer financing, commercial finance, factoring, leasing, securities brokerage, asset managers, automobile financing and student lending.

The methodology is based on both quantitative and qualitative analysis of historical and current data, at European level, to form expectations for a number of aspects affecting future credit risk.

These include e.g., financial, business, operational, legal, regulatory, ESG, climate, as well as industry-specific and sovereign factors.
The Credit Ratings may be used for regulatory purposes in accordance with Union law as implemented by the national legislation of EU Member States.

You can see our new methodology here, as it is publicly available on the company’s website.