EU Pulls Registration Of UK Rating Agencies After Brexit

Law360, London (January 4, 2021, 2:02 PM GMT) -- Europe's top markets watchdog said Monday it has withdrawn the authorization that allowed six British credit ratings agencies and trade repositories to operate in the European Union after Britain formally exited the bloc.

The European Securities and Markets Authority said it has withdrawn the registrations of ratings agencies including Moody's Investors Service Ltd., Fitch Ratings Ltd. and the Economist Intelligence Unit Ltd. But ESMA pointed out that five of the agencies have already struck endorsement deals with EU ratings companies.

Ratings from these agencies can no longer be used for regulatory purposes unless endorsed by a European credit rating agency, ESMA said....

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