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Legalize / European Union / Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016 laying down implementing technical standards with regard to the mapping of credit assessments of external credit assessment institutions for credit risk in accordance with Articles 136(1) and 136(3) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance) / History

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Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016 laying down implementing technical standards with regard to the mapping of credit assessments of external credit assessment institutions for credit risk in accordance with Articles 136(1) and 136(3) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance)

4 versions · 2016-10-07
2024-07-25
Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016 lay
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Changes on 2024-07-25

@@ -223,9 +223,7 @@
| 5 | The rated entity has the capacity to meet its financial commitments but is subject to high credit risk. Adverse business, financial, or economic conditions will likely impair the rated entity's capacity or willingness to meet its financial commitments. |
| 6 | The rated entity is currently vulnerable or highly vulnerable and is subject to very high credit risk, including in or very near to default. It is dependent upon favourable business, financial, and economic conditions to meet its financial commitments. |
## **ANNEX III**
### **Mapping tables for the purposes of Article 16**
## ANNEX III
| **Credit quality step** | **1** | **2** | **3** | **4** | **5** | **6** |
| --- | --- | --- | --- | --- | --- | --- |
@@ -238,26 +236,20 @@
| *ARC Ratings S.A.* | | | | | | |
| Medium- and long-term issuer rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Medium- and long-term issue rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Claims paying ability rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, R |
| Insurance Financial Strength Rating Criteria scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Short-term issuer rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | | |
| Short-term issue rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | | |
| *ASSEKURATA Assekuranz Rating-Agentur GmbH* | | | | | | |
| Long-term credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC/C, D |
| Short-term corporate rating scale | A++ | A | | B, C, D | | |
| *Axesor Risk Management S.L.* | | | | | | |
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D, E |
| Global short-term rating scale | AS1+ | AS1 | AS2 | AS3, AS4, AS5 | | |
| *Banque de France* | | | | | | |
| Global long-term issuer credit rating scale | 3++ | 3+, 3 | 4+ | 4, 5+ | 5, 6 | 7, 8, 9, P |
| Global NEC long-term issuer credit rating scale | 1+ | 1, 1- | 2+, 2, 2- | 3+, 3, 3-, 4+, 4, 4-, 5+ | 5, 5-, 6+, 6, 6- | 7, 8, P |
| *BCRA — Credit Rating Agency AD* | | | | | | |
| Global ANACOT long-term issuer credit rating scale | 1+ | 1, 1- | 2+, 2, 2- | 3+, 3, 3-, 4+, 4, 4-, 5+ | 5, 5-, 6+, 6, 6- | 7, 8, P |
| *BCRA Credit Rating Agency AD* | | | | | | |
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Global short-term rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | | |
| Pension-insurance company long-term scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Pension-insurance company short-term scale | A-1+ | A-1 | A-2, A-3 | B, C, D | | |
| Pension fund long-term scale | AAA pf, AA pf | A pf | BBB pf | BB pf | B pf | C pf |
| Guarantee fund long-term scale | AAA, AA | A | BBB | BB | B | C, D |
| Guarantee fund short-term scale | A-1+ | A-1 | A-2, A-3 | B, C, D | | |
| *Capital Intelligence Ratings Ltd* | | | | | | |
| International long-term issuer rating scale | AAA, AA | A | BBB | BB | B | C, RS, SD, D |
| International long-term issue rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
@@ -269,9 +261,9 @@
| Corporate long-term rating scale | A1.1, A1.2, A1.3 | A2.1, A2.2, A3.1 | B1.1, B1.2 | B2.1, B2.2 | C1.1 | C1.2, C2.1 |
| Corporate short-term rating scale | S-1 | S-2 | S-3 | V-1, R-1 | | |
| *Creditreform Rating AG* | | | | | | |
| Long-term issuer rating scale | AAA, AA | A | | BBB | BB, B | C, SD, D |
| Long-term issue rating scale | AAA, AA | A | | BBB | BB, B | C, D |
| Short-term rating scale | L1 | L2 | | L3, NEL, D | | |
| Long-term issuer rating scale | AAA, AA | A | BBB | BB | B | C, SD, D |
| Long-term issue rating scale | AAA, AA | A | BBB | BB | B | C, D |
| Short-term rating scale | L1 | L2 | L3 | NEL, D | | |
| *CRIF Ratings S.r.l.* | | | | | | |
| Long-term issuer rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D1S, D |
| Long-term issue rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, DS |
@@ -280,19 +272,22 @@
| Short-term issue rating scale | IG-1 | | IG-2 | SIG-1, SIG-2, SIG-3, SIG-4 | | |
| *DBRS Ratings GmbH* | | | | | | |
| Long-term obligations rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Commercial paper and short-term debt rating scale | R-1 H, R-1 M | R-1 L | R-2, R-3 | R-4, R-5, D | | |
| Commercial paper and short-term debt rating scale | R-1 H, R-1 M | R-1 L | R-2, R-3 | R-4, R-5, D | | |
| Financial strength rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, R |
| Expected loss rating scale | AAA(el), AA(el) | A(el) | BBB(el) | BB(el) | B(el) | CCC(el), CC(el), C(el) |
| *Egan-Jones Ratings Co.* | | | | | | |
| Long-term credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Short-term credit rating scale | A-1+ | A-1 | A-2 | A-3, B, C, D | | |
| *EthiFinance S.L. (formerly Axesor Risk Management S.L.)* | | | | | | |
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Global short-term rating scale | EF1+ | | EF1, EF2 | EF3, EF4 EF5 | | |
| *EuroRating Sp. z o.o.* | | | | | | |
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| *Fitch Ratings Ireland Limited* | | | | | | |
| Long-term issuer default rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, RD, D |
| Corporate finance obligations — long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C |
| Corporate finance obligations long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C |
| Long-term international Insurer Financial Strength rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C |
| Derivative counterparty rating scale | AAA dcr, AA dcr | A dcr | BBB dcr | BB dcr | B dcr | CCC dcr, CC dcr, C dcr |
| Derivative counterparty rating scale | AAA dcr, AA dcr | A dcr | BBB dcr | BB dcr | B dcr | CCC dcr, CC dcr, C dcr, RD dcr, R dcr |
| Short-term rating scale | F1+ | F1 | F2, F3 | B, C, RD, D | | |
| Short-term IFS rating scale | F1+ | F1 | F2, F3 | B, C | | |
| *GBB-Rating Gesellschaft für Bonitätsbeurteilung GmbH* | | | | | | |
@@ -300,9 +295,9 @@
| *HR Ratings de México, S.A. de C.V.* | | | | | | |
| Global long-term rating scale | HR AAA(G)/HR AA(G) | HR A(G) | HR BBB(G) | HR BB(G) | HR B(G) | HR C(G)/HR D(G) |
| Global short-term rating scale | HR+1(G)/HR1(G) | HR2(G) | HR3(G) | HR4(G), HR5(G), HR D(G) | | |
| *ICAP S.A.* | | | | | | |
| Global long-term issuer rating scale | | AAA, AA | A, BBB | BB, B | CCC, CC | C, D |
| Global long-term issue rating scale | | AAA, AA | A, BBB | BB, B | CCC, CC | C, D |
| *ICAP CRIF S.A. (previously ICAP S.A.)* | | | | | | |
| Global long-term issuer rating scale | AAA, AA | A | BBB | BB | B, CCC | CC, C, D |
| Global long-term issue rating scale | AAA, AA | A | BBB | BB | B, CCC | CC, C, D |
| *INBONIS S.A.* | | | | | | |
| Long-term rating scale | AAA/AA | A | BBB | BB | B | CCC, CC, C, D |
| *Japan Credit Rating Agency Ltd* | | | | | | |
@@ -313,31 +308,23 @@
| *Kroll Bond Rating Agency Europe Limited* | | | | | | |
| Long-term credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Short-term credit rating scale | K1+ | K1 | K2, K3 | B, C, D | | |
| Insurance Financial Strength rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| *modeFinance S.r.l.* | | | | | | |
| Global long-term rating scale | A1, A2 | A3 | B1 | B2 | B3 | C1, C2, C3, D |
| *Moody’s Investors Service* | | | | | | |
| Global long-term rating scale | Aaa, Aa | A | Baa | Ba | B | Caa, Ca, C |
| Global short-term rating scale | P-1 | P-2 | P-3 | NP | | |
| *Nordic Credit RatingAS* | | | | | | |
| *Nordic Credit Rating AS* | | | | | | |
| Long-term rating scale | AAA/AA | A | BBB | BB | B | CCC, CC, C, D, SD |
| Short-term rating scale | | | N-1+ | N-1, N-2, N-3, N-4 | | |
| *QIVALIO SAS (formerly Spread Research)* | | | | | | |
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Global short-term rating scale | SR0 | | SR1, SR2 | SR3, SR4, SR5, SRD | | |
| *Rating-Agentur Expert RA GmbH* | | | | | | |
| International long-term credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D, E |
| International reliability rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D, E |
| International short-term rating scale | RA1+ | RA1 | RA2, RA3 | RA4, RA5, C, D | | |
| Short-term rating scale | N1 | N2 | N3 | N4, N5, N6 | | |
| *Scope Ratings GmbH* | | | | | | |
| Long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC,C, D |
| Short-term rating scale | S-1+ | S-1 | S-2 | S-3, S-4 | | |
| *Scope Hamburg GmbH* | | | | | | |
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, SD, D |
| Long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D/SD |
| Short-term rating scale | S-1+ | S-1 | S-2 | S-3, S-4, D/SD | | |
| *S&P Global Ratings Europe Limited* | | | | | | |
| Long-term issuer credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, R, SD/D |
| Long-term issue credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Insurer financial strength rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, SD/D, R |
| Long-term Financial Institution Resolution Counterparty Ratings | AAA, AA | A | BBB | BB | B | CCC, CC, SD,, D |
| Long-term Financial Institution Resolution Counterparty Ratings | AAA, AA | A | BBB | BB | B | CCC, CC, SD, D |
| Mid-Market Evaluation rating scale | | MM1 | MM2 | MM3, MM4 | MM5, MM6 | MM7, MM8, MMD |
| Short-term issuer credit rating scale | A-1+ | A-1 | A-2, A-3 | B, C, R, SD/D | | |
| Short-term issue credit rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | | |
2021-12-07
Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016 lay
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2019-12-24
Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016 lay
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2018-05-15
Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016
original version Text at this date