Kroll Bond Rating Agency said it’s been green-lighted by the European Securities and Markets Authority (ESMA) to operate in the European Union.
The certification provides a means by which ratings issued by a CRA outside the EU, such as KBRA, can be used for regulatory purposes by regulated entities in the EU. The certification takes effect on March 20, 2013.
“We are very happy with the certification,” said Jim Nadler, president of KBRA. “European investors can now look to Kroll Bond Ratings as a resource for research, ratings and credit expertise,” he added.
KBRA was established in 2010 by Jules Kroll and is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).