EC drops equivalence status; Singapore credit agencies can still access EU, says MAS
S'pore still among markets that have been assessed by the ESMA to meet the rules for endorsement status
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Annabeth Leow
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Singapore
EUROPE no longer considers ratings from credit agencies here to be equivalent to those issued by agencies in the continental trading bloc.
But Singapore agencies' ratings can still be recognised in Europe - and used by parties such as banks - if endorsed by European counterparts, the Monetary Authority of Singapore (MAS) affirmed on Monday evening, pointing to a separate framework.
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