The withdrawal decision follows the official notification sent to ESMA by INC Rating Sp. z o.o on 28 October 2020 of its intention to renounce its registration as a CRA under the conditions set out in Article 20(1)(a) of the CRA Regulation (CRAR). ESMA confirms that INC Rating Sp. z o.o has effectively stopped its rating activities.
Point (a) of Article 20(1) of the CRA Regulation provides that without prejudice to Article 24, ESMA shall withdraw the registration of a credit rating agency where the credit rating agency “expressly renounces the registration or has provided no credit ratings for the preceding six months”.