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S&P Provides Update On Ratings Endorsement Regime In The EU

Publication date: 08-Nov-2010 13:03:32 GMT


LONDON (Standard & Poor's) Nov. 8, 2010--Standard & Poor's Ratings Services 
today announced its intention to identify ratings that are issued by its 
ratings affiliates within the European Union, and where appropriate, identify 
as "endorsed" those ratings assigned by S&P's non-EU ratings affiliates that 
are endorsed into the EU. Identification will be achieved either by 
letter-identifiers indicating EU-originated ratings or, when applicable, 
EU-endorsed ratings. Endorsement may allow firms to use ratings issued by 
S&P's non-EU ratings affiliates. 

S&P intends to identify its ratings pursuant to the recently-enacted European 
Regulation on Credit Rating Agencies (Regulation (EC) No 1060/2009). The EU 
Regulation may be viewed at: 
http://ec.europa.eu/internal_market/securities/docs/agencies/100602_proposal_en
.pdf.  

S&P will show the identifiers in an additional column to the ratings display 
tables on www.standardandpoors.com. Ratings assigned inside the EU will be 
accompanied by an "EU" identifier while ratings endorsed for use in the EU 
will be accompanied by an "EE" identifier. Neither identifier modifies any 
rating definition.

The identifiers are likely to be implemented following approval by the 
Committee of European Securities Regulators. 



Media Contacts:Martin Winn, London (44) 20-7176-3740;
martin_winn@standardandpoors.com
John Piecuch, London (44) 20-7176-3536;
john_piecuch@standardandpoors.com

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