Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options

Add to favourites

View Options

More Resources:

External link Handbook Publications

You are viewing the version of the document as on 2021-04-30.

Alternative versions

  1. Point in time
    2021-04-30

Article 10 Meaning and relative position of a rating category

  1. (1)

    The meaning of a rating category established by the ECAI shall be set according to the characteristics of the capacity of financial commitments as reflected in the items assigned such rating category being honoured, and more in particular by its degree of sensitivity to the economic environment and its degree of proximity to the default situation.

  2. (2)

    The meaning of a rating category shall be compared to the one established for each credit quality step, as set out in Article 15.

  3. (3)

    The meaning of a rating category shall be considered in combination with its relative position within the rating scale established by the ECAI.