HR Ratings de México S.A. de C.V. has obtained the following recognitions by regulatory authorities at a global level:

Climate Bonds Initiative (CBI)

The Climate Bonds Standard Board approved HR Ratings de México, S.A. de C.V. on June 21st, 2018 as a Verifier under the Climate Bonds Standard & Certification Scheme.




Comisión Nacional Bancaria y de Valores (CNBV)

HR Ratings was the first Mexican rating agency to obtain authorization from the CNBV in 2007 to issue ratings on debt operations in Mexico. With offices in Mexico and the United States, the Rating Agency currently has more than 80 employees and nearly 1,300 ratings under supervision, totaling $ 35 billion in emissions. In addition, HR Ratings appears in the notice issued by CONSAR, BANXICO, la Comisión Nacional de Seguros y Fianzas (CNSF), and in the notice issued by the CNBV, which regulates Financial Institutions and other persons providing investment services.




U.S. Securities and Exchange Commission (SEC)

HR Ratings was registered in 2012 as a Nationally Recognized Statistical Rating Organization (NRSRO) to qualify government securities and in November 2016, obtained the registration to qualify corporate and financial institutions. With this, ratings for public finance, corporate and financial institutions, pesos or USD denominated, will now be issues as NRSRO ratings in the U.S.




European Securities and Markets Authority (ESMA)

In November 2014, the European Securities and Markets Authority (ESMA) approved the HR Ratings certification as a Credit Rating Agency (CRA) in the European Union, in accordance with Article 16 of the regulation applicable to CRA. The certification as CRA allows the ratings issued by HR Ratings to be used for regulatory purposes, in accordance with the laws of the European Union.




National Association of Insurance Commissioners (NAIC)

The NAIC's Valuation of Securities Task Force approved in August, 2015 the application of HR Ratings to be added to its official list of credit rating suppliers. This means securities holding a current, monitored rating by HR Ratings can be converted to the equivalent NAIC designation and qualify for an exemption under the NAIC’s filing exempt (FE) rule adopted in 2004.



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