On December 12, 2014, the European Securities and Markets Authority (“ESMA”) published an updated list of registered and certified credit rating agencies (“CRAs”), and approved the certification in the European Union of Egan-Jones Ratings Co. (EJR), a US CRA. The certification regime is only available to third country registered and supervised CRAs not established in the EU and which are not of systemic importance to the financial stability or integrity of the financial markets of one or more member states. The registration regime, however, applies to CRAs established in the EU. Credit ratings issued by EJR can now be used for regulatory purposes under EU legislation, and the new CRA is required to comply with the regulatory requirements set out under the CRA Regulation as well as ESMA’s regulatory technical standards.

The updated list of registered and certified CRAs is available at

http://www.esma.europa.eu/page/List-registered-and-certified-CRAs.