sovereign rating

Definitions over time (1)

20/06/2013 – today applies on 10/11/2026 Article 3, Regulation (EC) No 1060/2009 Scope: Whole act

For the purpose of this Regulation, the following definitions shall apply:

‘sovereign rating’ means: a credit rating where the entity rated is a State or a regional or local authority of a State; a credit rating where the issuer of the debt or financial obligation, debt security or other financial instrument is a State or a regional or local authority of a State, or a special purpose vehicle of a State or of a regional or local authority; a credit rating where the issuer is an international financial institution established by two or more States which has the purpose of mobilising funding and providing financial assistance for the benefit of the members of that international financial institution which are experiencing or threatened by severe financing problems;