The European Central Bank decided to include the evaluation company Scope Ratings in the “list of relevant companies” that it recognizes and takes into account.

It is recalled that this rating agency was the first major one that, last August, upgraded the Greek economy by classifying it in the investment grade BBB – keeping the outlook stable, citing the strengthening of European institutional support, the favorable trajectory of the public debt and the reforms of the banking sector.

As stated in an announcement by the ECB on November 2, 2023, its Governing Council decided to accept the credit rating agency Scope Ratings GmbH (Scope Ratings) as a new external credit rating institution (ECAI) for the purposes of the Credit Rating Framework of the Eurosystem (ECAF).

However, the process of integrating Scope Ratings into the IT infrastructure of the Eurosystem will start immediately and is likely to take several months.

Therefore, the launch date of the possibility to use Scope Ratings for monetary policy purposes will be announced in due course.

The evaluation took into account ECAI’s acceptance criteria, which include quantitative and qualitative criteria.