The European Securities and Markets Authority (ESMA) has today withdrawn the credit rating agency (CRA) registration of Feri EuroRating Services AG (Feri EuroRating).

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The withdrawal decision follows the official notification to ESMA by Scope Ratings AG (Scope Ratings) on 24 January 2017 of Feri EuroRating’s intention to renounce its registration under the conditions set out in Article 20(1)(a) of the CRA Regulation, as it no longer performed credit rating activities and no longer existed as a separate legal person.

Feri EuroRating was acquired by Scope KGaA, the parent company of Scope Ratings (a registered CRA), on 1 August 2016. Subsequently, all of Feri EuroRating’s corporate and sovereign credit rating-related activities, and its internal control functions, were transferred to Scope Ratings. All the remaining activities of Feri EuroRating are now undertaken by other subsidiaries of Scope SE & Co. KGaA.

ESMA confirms that Feri EuroRating effectively stopped its rating activities.

Point (a) of Article 20(1) of the CRA Regulation provides that without prejudice to Article 24, ESMA shall withdraw the registration of a credit rating agency where the credit rating agency expressly renounces the registration or has provided no credit ratings for the preceding six months.

Notes for editors
Scope Ratings AG (previously PSR Rating GmbH) has been registered as a CRA since 24 May 2011.

Feri EuroRating Services AG was registered as a CRA on 14 April 2011.

Registered and Certified Credit Rating Agencies.

ESMA’s mission is to enhance investor protection and promote stable and orderly financial markets.

It achieves these objectives through four activities:

assessing risks to investors, markets and financial stability;

completing a single rulebook for EU financial markets;

promoting supervisory convergence; and

directly supervising specific financial entities.

5. ESMA achieves its mission within the European System of Financial Supervision (ESFS) through active cooperation with the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), the European Systemic Risk Board, and with national authorities with competencies in securities markets (NCAs).

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