Pursuant to European Union (EU) Regulation governing the activities of credit rating agencies (CRAs) operating in the EU, a CRA established and registered in the EU may endorse ratings from non-EU CRAs if the lead analyst is based in a third country where the European Securities and Markets Authority (ESMA) considers the requirements of the CRA regulation in place to be as stringent as (equivalent to) requirements in the EU CRA Regulation, and where ESMA has put in place a cooperation agreement with the relevant third country regulator.
As a registered CRA in the EU, A.M. Best Europe Rating Services Limited (AMBERS) endorses selected credit ratings issued by the following affiliated non-EU CRA group members:
AMBERS endorsed credit ratings produced by affiliated non-EU registered CRA's are denoted by the "European Union Endorsed" statement on the applicable credit rating webpage. This statement indicates that AMBERS has endorsed the particular credit rating and it may be used for regulatory purposes within the EU as set out in EC No. 1060/2009 (as amended). Please note, AMBERS does not endorse National Scale Ratings.