EuroRating is a fully independent credit rating agency specializing in credit risk assessment of corporates and financial institutions. EuroRating has a formal registration as a CRA in the European Union (in accordance with Regulation No. 1060/2009 of the European Parliament on credit rating agencies) and is subject to supervision of the European Securities and Markets Authority (ESMA). EuroRating has the status of an ECAI (External Credit Assessment Institution) pursuant to the Regulation of the European Parliament and of the Council No. 575/2013 on prudential requirements for credit institutions and investment firms (CRR Direcitive). Credit ratings (including unsolicited ratings) assigned by EuroRating are valid throughout the European Union and can be used for regulatory purposes under EU legislation by all financial institutions or any other entities and are entirely equal to credit ratings issued by other credit rating agencies recognized by ESMA, without territorial or any other limitations.