New Telegraph

‘Big Three’ Credit rating Firms Maintain Europe Dominance

S &P Global, Moody’s and Fitch, the socalled “Big Three” credit ratings agencies, are maintaining their dominance of Europe’s credit score market despite the region’s efforts to loosen their vice-like grip, data shows.

Data published on Wednesday by EU watchdog, the European Securities and Markets Authority (ESMA), showed the trio accounted for 92% of all paid-for ‘solicited’ ratings, which range from government bonds to company debt and structured finance.

Despite efforts by Brussels to encourage greater competition following the global financial crash and euro zone debt crisis, that figure has reduced only fractionally over the last decade.

The number of ratings firms registered in the 30-country European Economic Area (EEA30), which the ESMA data cover, has also been dropping steadily in recent years and now stands at 19 compared to 25 back in 2020.

Read Previous

Quanta Africa To Train, Offer Employment To 1,000 Youths In Cohort 2 Of TalentDev

Read Next

FG Reveals Kano-Zaria, Zaria-Kaduna Roads, 2nd Niger Bridge Ready May 15

Leave a Reply

Your email address will not be published. Required fields are marked *