The European Securities and Markets Authority has launched a call for evidence to collect stakeholder input on the purposes, market practices, needs and risks associated with restricted subscription and private credit ratings. The request focuses on how these ratings are used and for what use cases, including any benefits compared with publicly disclosed ratings; which parties contract for them and how far they are disclosed or distributed; and whether the analytical processes, governance arrangements and internal controls applied to these products are comparable to those used for public credit ratings. ESMA is seeking evidence-based responses, including quantitative information where available and concrete examples from market practice, by 31 May 2026. Responses will be reviewed in the second quarter of 2026 to assess whether regulatory adjustments or clarifications are needed to enhance clarity on the application of the Credit Rating Agencies Regulation.
European Securities and Markets Authority 2026-04-16
European Securities and Markets Authority launches call for evidence on restricted subscription and private credit ratings
The European Securities and Markets Authority has launched a call for evidence on the purposes, market practices, needs and risks associated with restricted subscription and private credit ratings. ESMA seeks information on their use cases, contracting parties, disclosure practices and whether analytical processes, governance and internal controls are comparable to public credit ratings, to assess whether adjustments or clarifications to the Credit Rating Agencies Regulation are needed.