Subject Matter
Article 8(7) – Error Reporting (ESMA33-5-87 Q&A 8)
Question
(a) What types of errors should be reported to ESMA and all affected rated entities?
(b) Does Article 8(7)(a) require a CRA to notify ESMA and all affected rated entities of an error which does not lead to a change in any issued credit rating?
(c) Are CRAs allowed to notify the errors in rating methodologies to the affected entities in the press release or credit report published after the re-rating exercise?
(b) Does Article 8(7)(a) require a CRA to notify ESMA and all affected rated entities of an error which does not lead to a change in any issued credit rating?
(c) Are CRAs allowed to notify the errors in rating methodologies to the affected entities in the press release or credit report published after the re-rating exercise?
Level 1 Regulation
Credit Rating Agencies Regulation (CRAR) Regulation (EC) No 1060/2009