1.  A registered or certified credit rating agency shall, when issuing a credit rating or a rating outlook, submit to ESMA rating information, including the credit rating and rating outlook of the rated instrument, information on the type of credit rating, the type of rating action, and date and hour of publication.

2.  ESMA shall publish the individual credit ratings submitted to it pursuant to paragraph 1 on a website (‘European rating platform’).

The central repository referred to in Article 11(2) shall be incorporated in the European rating platform.

3.  This Article shall not apply to credit ratings or rating outlooks which are exclusively produced for and disclosed to investors for a fee.