Credit Rating Agencies (CRAs) are financial services firms that issue credit ratings, which are opinions on the creditworthiness of an issuer or security. Any legal person wishing to issue credit ratings in the UK for regulatory purposes, publicly or by subscription, will need to be registered or certified with us.
Approach to Supervision
In February 2022, we issued the first portfolio letter to all Credit Rating Agencies in our portfolio setting out what we expect CRAs to do to minimise risks to consumers, market integrity or competition from failures to meet regulatory requirements.
CRAs perform an integral role within global financial markets by providing opinions on the creditworthiness of a wide variety of financial instruments. Credit rating activities must be conducted in accordance with the principles of integrity, transparency, responsibility and good governance in order to ensure that resulting credit ratings used in the UK are independent, objective and of adequate quality.
Use of Credit Ratings in the UK
UK firms may use credit ratings in the calculation of their capital requirements and for assessing risks in investment activity. UK firms using ratings for regulatory use in the UK need to use ratings that are issued or endorsed by a UK registered or certified CRA.
Here we list the CRAs which are registered or certified with us, or otherwise entitled to offer CRA services in the UK under the Temporary Registration Regime.
The list below will be updated as necessary and does not supersede the Financial Services Register.
Egan-Jones Ratings Company [certified]
HR Ratings de Mexico [certified]
Japan Credit Rating Agency [certified]
Accessing Credit Ratings Information
The FCA publishes CRA information as well as individual credit ratings data on our Public Ratings Database (PRD). Users can search for specific credit ratings and access public press releases reported to us by regulated CRAs.
We also make available credit rating activity and performance statistics on our Central Repository Statistics (CERES) platform. This website allows a user to view and download ratings statistics based on defined search criteria, using ratings data provided to us by regulated CRAs.
Any firm that is carrying out credit rating activities in the UK without being registered with us is operating in breach of the CRA Regulation.
If you have any information on a firm that may be breaching the CRA regulation or are a firm that would like clarification as to whether it is engaging in credit rating activities, then please contact the Supervision Department at [email protected].