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‘Private’ credit ratings can’t be shared with more than 150 people, ESMA proposes

( January 28, 2022, 11:01 GMT | Official Statement) -- MLex Summary: Private credit ratings should only benefit from a carveout from EU law if they are subject to non-disclosure agreements and shared with fewer than 150 people, the European Securities and Markets Authority has said. ESMA is consulting on changing its guidelines, citing uncertainty in how to apply an existing exemption from the 2013 EU regulation that governs rating agencies such as Fitch and Moody's. Statement follows. Document attached. ...

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