Regulatory requirements


Creditreform Rating AG has been duly registered as a rating agency pursuant to EU Regulation (EC) 1060/2009 (EU Rating Regulation).

Conflicts of interest

Conflicts of interest

This is where Creditreform Rating AG releases information about all actual or potential conflicts of interest. There are currently no discernible – actual or potential – conflicts of interests.

In general, the following rule applies: Creditreform Rating AG recognizes, eliminates or resolves actual or potential conflicts of interest that are liable to affect the analyses and the judgment of its rating analysts and of the people who approve the ratings, disclosing them in a clear and unambiguous manner.

Principles for the compensation of staff

Employees of CRA commissioned to perform or process ratings receive a compensation which is independent from specific ratings or non-core business activities.

Non-core business activities

List of non-core business activities

In addition to the performance of ratings, Creditreform Rating AG provides the following business services:

  • Pre-ratings: initial assessments of companies
  • Balance sheet ratings: the acquisition of data from annual statements and their statistical / mathematical evaluation
  • Debtor / creditor management services for companies or lenders for the purposes of acquiring and analyzing data from annual statements
  • Industry ratings: processes to assess individual industries
  • Risk assessments: processes to assess the risks of receivables portfolios
  • Regional analyses: processes to assess the risks of specific regions within Germany

Disclosure of ratings

Disclosure of ratings

Creditreform Rating AG defines the term “rating“ pursuant to the legally valid definition of the EU Rating Regulation. According to Article 3 of the EU Rating Regulation, a credit rating is “an opinion regarding the creditworthiness of an entity, a debt or financial obligation, debt security, preferred share or other financial instrument, or of an issuer of such a debt or financial obligation, debt security, preferred share or other financial instrument, issued using an established and defined ranking system of rating categories”.

Creditreform Rating AG issues “private“ as well as “public“ ratings as defined by the EU Rating Regulation. This distinction between “private“ and “public“ ratings follows the ESMA Guidelines and Recommendations on the Scope of the CRA Regulation (ESMA/2013/720).

Sovereign Rating Calendar

Sovereign Rating Calendar