29 May ICAP CRIF Credit Rating Agency: Consultation on the revision of quantitative models assessing the creditworthiness of companies with unavailable financial data

Αthens, May 29th 2023

PUBLIC ANNOUNCEMENT

Public Consultation on the revision of quantitative models assessing the creditworthiness of companies with unavailable financial data

Pursuant to its institutional role as a Credit Rating Agency, supervised by the European Securities and Markets Authority (ESMA), ICAP CRIF S.A. assigns Credit Ratings issued through an established and well-defined rating system, with rating categories, which may be used for regulatory purposes, i.e., for specific purposes of compliance with EU law or with EU law as applied by the national legislation of the Member States.

In the context of the regular updating of the models for the assessment of credit risk and with the aim of permanently ensuring methodologies that are valid, systematic, and continuous, the Internal Review Function (IRF) of ICAP CRIF proposed the revision of the quantitative models that estimate the creditworthiness of companies falling in the class of those with unavailable financial data.

The key assumptions, the validation checks, the impact on current assessments of the new methodology that ICAP CRIF intends to adopt and the main differences between the existing and the new methodology, ICAP CRIF lists to public consultation in accordance with the requirements of the amended Regulation 1060/2009 for Credit Rating Agencies, in the following link https://www.icapcrif.com/en/our-services/ratings-analytics-services/ratings-scores/