ESMA FORMALLY NOTIFIED THE RENOUNCMENT OF THE REGISTRATION AS A RATING AGENCY FOR SCOPE HAMBURG GMBH
The European Securities and Markets Authority (ESMA) formally notified Scope Hamburg GmbH (Scope Hamburg) to have renounced the registration of Scope Hamburg as Credit Rating Agency. As communicated on Feb. 20, 2023, Scope Hamburg requested the renouncement of its registration as a Credit Rating Agency.
Effective as of 24 March 2023, Scope Hamburg’s registration as a Credit Rating Agency was renounced. Scope Hamburg has ceased to exist as a Credit Rating Agency.
For investors using Scope Hamburg’s credit ratings for regulatory purposes, it is important to note the following:
Following Article 24 of the Regulation (EC) No. 1060/2009 of the European Parliament and of the Council of 16 September 2009 on Credit Rating Agencies, Scope Hamburg’s outstanding credit ratings may continue to be used for regulatory purposes either for:
• Ten working days if the rating is of an entity or instrument that is rated by another ESMA-registered Credit Rating Agency or,
• Three months if the rating is of an entity or instrument that is not rated by another ESMA-registered Credit Rating Agency
following the effective date of the renouncement of Scope Hamburg’s registration as a Credit Rating Agency.
