S&P Global Ratings Europe Limited (“SPGRE”), a Dublin-based Irish company is registered with the European Securities and Markets Authority (“ESMA”) as a credit rating agency (“CRA”) under Regulation (EC) No. 1060/2009 as amended (“the CRA Regulation”). Under the CRA Regulation and related legislation, credit ratings issued or endorsed by ESMA-registered CRAs may be usable in the European Union (“EU”) for certain regulatory purposes.
SPGRE has been authorized by ESMA to provide services as an external reviewer of European Green Bonds (“External Reviewer”) during the transition period that started on 21 December 2024 as per Article 69 of the Regulation (EU) 2023/2631 (“the EU Green Bond Regulation” or “EUGBR”). Click here for a listing of documents addressing applicable requirements of the EUGBR concerning External Reviewers during the transition period ending on 21 June 2026 as laid out in Article 69.2 of EUGBR.
The documents listed below fulfill regulatory commitments in support of enhancing transparency of S&P Global Ratings' CRA business operations in the EU.
Endorsement of Credit Ratings
Endorsement of Credit Ratings
Ratings Methodologies, Models, and Assumptions
Criteria Requests for Comments
Requests for Comment
Requests for Comment Responses
Information on the models and criteria which S&P Global Ratings in the EU uses in its credit rating activities.
Table of Contents: S&P Global Ratings' Credit Ratings Models
Table of Contents: S&P Global Ratings' – Ratings Criteria
Calendar of Publication Dates for Sovereign, Regional & Local Government Ratings
This calendar sets out dates for the publication of credit rating actions on sovereign ratings and related rating outlooks. S&P Global Ratings has nominated two or three publication dates for each sovereign it currently rates from Europe, the Middle East and Africa, including sovereigns that have solicited and unsolicited ratings. As required by regulation, all such publication dates are on Fridays and deviation from the calendar is only permitted in exceptional circumstances, to meet regulatory obligations. Any deviation would be accompanied by a detailed explanation.
Calendar of Publication Dates For Sovereign, Regional & Local Government Ratings
Initial Reviews and Preliminary Ratings Disclosure List
Information about certain entities or debt instruments submitted to S&P Global Ratings Europe Limited for initial review or preliminary rating.
Initial Reviews and Preliminary Ratings Disclosure List
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in the EU.
S&P Global Ratings' Product Descriptions
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global Ratings in the EU.
S&P Global Ratings' Conflicts of Interest
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in the EU.
Compensation Arrangements
Code of Conduct
S&P Global Ratings Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in the EU.
Assignment of Credit Ratings
Withdrawal, Discontinuance and Suspension Policy
Ratings Release
Issuer Notification (including Issuer Appeals)
Unsolicited Ratings Policies
Assignment of Credit Ratings
Withdrawal, Discontinuance and Suspension Policy
Transparency Report
2024 EU Transparency Report March 2025
2023 EU Transparency Report March 2024
2022 EU Transparency Report March 2023
2021 EU Transparency Report March 2022
2020 EU Transparency Report March 2021
2019 EU Transparency Report March 2020
Shareholders and Directorships
Shareholders
Directorships
Other Disclosures
Rated Entities and financial firms/Related Third Parties and Credit Ratings associated therewith subject to a current 'sensitive departure' review
Rated Entities or Related Third Parties Accounting for More Than 5% of Annual Revenue
Material Modifications to Systems, Resources and Procedures
S&P Global Ratings’ Approach to Incorporating ESG Factors into its Credit Ratings
