2.1. Credibility and market acceptance

Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) · European Union

Competent authorities shall verify that ECAIs' individual credit assessments are recognised in the market as credible and reliable by the users of such credit assessments. Credibility shall be assessed by competent authorities according to factors such as the following: market share of the ECAI; revenues generated by the ECAI, and more in general financial resources of the ECAI; whether there is any pricing on the basis of the rating; and at least two credit institutions use the ECAI's individual credit assessment for bond issuing and/or assessing credit risks.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.