Scope Hamburg GmbH (Scope Hamburg) has formally notified the European Securities and Markets Authority (ESMA) to expressly renounce its registration as 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 upcoming announcement of ESMA’s decision of the renouncement of Scope Hamburg’s registration as a Credit Rating Agency. Scope Hamburg will share the effective data on its website once ESMA has announced its decision.